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    Bitcoin on breakout watch...

    Bitcoin on breakout watch...
    1. Home
    2. Market Analysis
    3. Bitcoin on breakout watch...
    • Markets optimistic over US-Iran talks
    • Tech rallies on upbeat forecast from TSMC
    • Bitcoin trapped within range since Feb 2026
    • Traders see 40% chance of Fed cut by end of 2026


    Bitcoin has been trapped within a range since February 2026 with support at $60,000 and resistance at $77,500.



    WHY?


    • Despite the Strait of Hormuz being blocked by the US navy, market remain hopeful of tensions easing down the road and this is reflected in the overall positive market sentiment. 

     

    WHAT COULD MOVE BITCOIN THIS WEEK?


    • Beyond geopolitics, Bitcoin may be influenced by speeches from various financial heavyweights and Fed speakers.


    • Any hint or signals around rate hikes may influence Bitcoin which remains heavily sensitive to rate expectations.


     

    POTENTIAL SCENARIOS

     

    • BULLISH: A solid daily close above the $75,500 resistance could push prices toward $83,000 and the 200-day SMA at $87,500.

     

    • BEARISH: Weakness below $75,500 may encourage a decline toward $70,000 and $65,000.


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