BTC May Face Further Declines As Russia-Ukraine Tension Increased

As U.S. officials warn that a Russian ground invasion of Ukraine could happen within the week, America's cyber defenders are preparing to stand guard against cyberattacks that could accompany an invasion.

After repeated warnings from the United States and its allies that an invasion could be imminent, Ukraine's ambassador to Britain said on Sunday that it could drop its bid to join NATO — raising eyebrows in Europe and Washington.

But a day later, Ukrainian officials appeared to walk back the statement, saying there would be no change in Ukraine's constitutional commitment to become a member of NATO, which it made in 2019.

If political tensions intensify between Russia and Ukraine, it's likely that crypto will come under pressure. This may also potentially test the lows of 2022 once again.

Technical Analysis

As for the technical forecast, it is likely that in the coming days we will still see a further decline in the BTC/USDT pair.

Look at the daily price chart. Here we can see that the price has been falling for the last few days. At the moment, the BTC/USDT pair has consolidated above the supportive trend line, which means that a rebound and continued growth is possible.

The RSI indicator, moving north, has not yet reached the overbought zone, and in the coming days, $44,000 mark will be a key resistance. However, MACD's positive histogram is weakening, while the signal lines tend to move horizontally. It also possitble for the bears to try to regain power, leading the market to turn south.



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