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Bitcoin Price USD Holds Above $105K as Geopolitical Tensions Rise, BUT What's Next?
- Bitcoin is currently trading at $105,535, maintaining support levels amidst growing geopolitical tensions.
- The daily chart indicates a range between $100K and $109K, with resistance at $109,000 and support at $100,000.
- Bulls are defending key zones, but momentum is slowing down as BTC remains range-bound.
- Geopolitical tensions, especially between Iran and Israel, could impact crypto markets due to potential increased demand for BTC in sanctioned states.
- Iran has a history of using crypto to bypass international payment sanctions, which could influence BTC demand globally if tensions escalate.
- Market volatility in crypto may rise with geopolitical shifts, affecting risk sentiment across assets.
- A break above $109K could indicate a new upward trend, while a drop below $100K may lead to a deeper retracement towards support zones at $92K and $86K.
- Monitoring RSI and volume can provide insights into potential breakout attempts amid geopolitical and macroeconomic uncertainties.
- The next Bitcoin movement is expected to be significant, driven by potential geopolitical shocks and market headwinds converging.
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