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On evaluating the movements of Bitcoin on a daily chart, I observe that despite a bounce back yesterday by U.S. attacks on Iran over the weekend, indicating extended selling pressure below the significant resistance at $70,074, while the next resistance is at $71,939.
Undoubtedly, Bitcoin has been sustaining at the lower levels from a long time due its position much below the significant resistance at the 200 EMA ($89,674) as other Exponential Moving Averages had pierced the 200 EMA on October-November 2025, resulting in a steep fall by Bitcoin experienced an advent of a sell-off on Nov.11, 2025 which pushed it to test a low at $60,182 on Feb.6, 2026 from where a sharp pull back was seen.
Undoubtedly, this pullback formed a significant resistance at $71,939 at the same levels, followed by repeated futile attempts to break this significant resistance, which resulted in the formation of a new resistance below this at $70,074.
I observed that Bitcoin has been trading in a narrow range since Feb.24, 2026, after finding support at $62,679 amid a series of buying and selling bouts up to Monday, when it experienced a sharp pullback, which finally attracted selling pressure.
On Tuesday, formation of a bearish dozi looks evident enough to extend the selling spree, which could push it back to test the immediate support at $64,998 this week, from where some bounce back could be there.
I find that if gold futures face a selling spree this week, if some easing appears on the U.S.–Iran front, smart money could flow to crypto currencies, which are currently trading at lower levels.
In conclusion, I find that exhaustion in gold prices mostly generates a buying spree in digital gold (Bitcoin).
Disclaimer: Readers are advised to take any position in Bitcoin at their own risk, as this analysis is based only on observations.
Undoubtedly, Bitcoin has been sustaining at the lower levels from a long time due its position much below the significant resistance at the 200 EMA ($89,674) as other Exponential Moving Averages had pierced the 200 EMA on October-November 2025, resulting in a steep fall by Bitcoin experienced an advent of a sell-off on Nov.11, 2025 which pushed it to test a low at $60,182 on Feb.6, 2026 from where a sharp pull back was seen.
Undoubtedly, this pullback formed a significant resistance at $71,939 at the same levels, followed by repeated futile attempts to break this significant resistance, which resulted in the formation of a new resistance below this at $70,074.
I observed that Bitcoin has been trading in a narrow range since Feb.24, 2026, after finding support at $62,679 amid a series of buying and selling bouts up to Monday, when it experienced a sharp pullback, which finally attracted selling pressure.
On Tuesday, formation of a bearish dozi looks evident enough to extend the selling spree, which could push it back to test the immediate support at $64,998 this week, from where some bounce back could be there.
I find that if gold futures face a selling spree this week, if some easing appears on the U.S.–Iran front, smart money could flow to crypto currencies, which are currently trading at lower levels.
In conclusion, I find that exhaustion in gold prices mostly generates a buying spree in digital gold (Bitcoin).
Disclaimer: Readers are advised to take any position in Bitcoin at their own risk, as this analysis is based only on observations.