Bitcoin Price Volatility Increases Amid Rising Geopolitical Tensions
Bitcoin has experienced significant price fluctuations, currently trading at approximately $106,800 after a nearly 5% drop due to geopolitical tensions, particularly between Israel and Iran. In the past 24 hours, Bitcoin briefly approached $108,000 but analysts predict a potential decline towards $100,000 amid ongoing instability.
Resistance and Volatility
Analyst Pejman_Zwin indicates that Bitcoin is facing resistance in the range of $105,330 to $107,120. This area poses a risk for increased volatility if challenged. A bearish continuation pattern may develop if Bitcoin fails to reclaim the $106,600 level convincingly.
Price Targets
If Bitcoin breaks down, key support levels are:
- $105,330 to $103,162
- Potential further decline to $102,600 or $101,000 if liquidation pressures continue
A sustained breakout above $107,120 could lead to a bullish shift towards resistance above $108,000, while failure to surpass this could result in further declines.
Currently, Bitcoin shows signs of consolidation with a slight decrease of 0.02% over the last 24 hours. The ongoing geopolitical climate remains a critical factor influencing its price movements.
