Recently escalation of tensions between Israel and Iran He added a fresh wave of fear On global markets, investors are taking a more cautious position on investing. At the same time, the Bitcoin technical chart sends mixed signals that can lead to a breakthrough in both directions.

After an unsuccessful attempt to recover USD 110,000 Now he slipped below 21-day movable average, but still above support at the 50-day movable average. This coincidence of medium medium, combined with the clearly defined resistance of the trend line, introduced bitcoins to the tightened structure of the price of the falling triangle formula.

A descending triangle with tightening and bear pressure

According to cryptographic analyst at X, Bitcoin creates a falling triangle pattern On the Daily Candlestick time chart. Interestingly, the rules of technical analysis state that the configuration of the pattern of the decreasing triangle is usually associated with bear failure. The photo of the chart accompanying the post shows the repetitive rejection from the lines down line, which began when Bitcoin reached a fresh highest level of all time in the amount of USD 111 814 on May 22. The second rejection was the highest than USD 110,000 at the beginning of this week. On the other hand, the base of the triangle remained in the support zone of approximately USD 102,000.

The analyst noticed that the 21-day moving average (21 mA), shown in blue, exerts down pressure, acts as resistance, while the 50-day moving average (50mA), in green, acts as a fleeting support floor. Since the price action is still narrowed in this movement of the triangle, the market is on the projection of a decisive movement in any direction.

Regardless of whether it bursts above resistance or falls through support, he probably dictates another main trend. However, if the decreasing triangle pattern continues to play with lower ups and constant support, the breakthrough will bend more towards the breakthrough.

Israel-Iran’s tensions can push a breakthrough or failure

. Ongoing tensions between Israel and Iran could Be a spark that forces Bitcoin from the current range. In particular, the wave of liquidation hit the cryptographic market on Friday, because the reports of the Israeli raid on Iran gave a message.

In such periods of geopolitical instability, Bitcoin often trades in an unpredictable way. They are there Two possible results Behind the leading cryptocurrency from here. It can act as a marina or can be sold for liquidity. If fear in time-honored markets is still growing, Bitcoin may break below Support worth USD 102,000 during upcoming commercial sessions, confirming the triangle’s bear implications.

However, if the stubborn rush returns, the break over a decreasing trend may annul the bears and open the door for $ 110,800 again. At the time of writing, Bitcoin trades for USD 104,990.

A distinguished picture from Shutterstock, Chart from TradingView