Bitcoin maintains solid stability above ATH – despite global uneasiness, momentum is still building
Bitcoin has been driving a turbulent environment over the past few days as rising geopolitical tensions continue to drive market uncertainty. Global financial markets have been on the edge since the Israeli military strike against Iran at dawn Friday, triggering immediate retaliation. Conflict, coupled with wider macroeconomic instability, strengthens volatility and occupies a bullish momentum among major risky assets.
Despite the pressure, Bitcoin is still resilient. BTC has reviewed after briefly marking its all-time high of $112,000 last week, but is still trading above the key support zone. According to a recent technical analysis shared by top analyst Jelle, Bitcoin’s previous all-time highs can still serve as support, providing the Bull with a key psychological and structural anchor. This price zone is crucial for maintenance to preserve a larger uptrend structure and potentially prepare for another attempt at price discovery.
Now investors are shifting their attention to macro catalysts such as oil prices, bond yields and central bank policy expectations that continue to affect liquidity flows across the market. For Bitcoin, once external pressure is easy to stabilize, holding the current level can be the basis for a stronger move.
Globally, Bitcoin merger near highs of macroeconomic headwind
From the $74,000 level to its all-time high of $112,000, Bitcoin entered the consolidation phase. This sharp rally has now been paused for weeks as traders and institutional investors assess the growing complexity of the macro environment. From surges in the U.S. fiscal gains and sticky inflation to escalating geopolitical tensions (particularly the Israel-Iran conflict), the current background has created a huge headwind for risky assets such as Bitcoin.
However, despite this turmoil, Bitcoin shows significant strength by keeping levels above the critical support levels. According to Jelle, Bitcoin’s previous all-time highs remain strong support, and it can serve as a launch pad for further upside. Jelle notes that BTC firmly shut down its former daily candles, even as global markets are stunning by a wave of fresh uncertainty. His conclusion is clear: “Bitcoin wants higher.”
Indeed, despite the shadow of short-term pictures being cautious, many remain optimistic about Bitcoin’s next move. Some forecasts suggest that BTC could exceed its $112,000 height in the coming weeks, especially if macro conditions such as loose yields in the Middle East or diplomatic progress provide relief to investors.
The next few weeks will be key. A clean break above ATH could ignite a new phase of price discovery, while failure to hold current support could trigger a deeper callback. Currently, the merger is above $100,000, keeping the bullish structure intact.
BTC price analysis: Weekly structure display intensity
Bitcoin’s weekly chart reflects the phase of consolidation, which is above $112,000 from a height of $112,000, after a sharp episode from below $75,000 levels. After several tests on the $109,300 resistance zone, BTC continues to hold its previous ATH range, with current support rate of about $103,600. This behavior suggests that despite recent geopolitical and macroeconomic pressures, the bulls remain in control.
After some time, the Bollinger is tightening after the swell, usually a signal of impending volatility. Price action comfortably surpassed the band’s mid-line and all key moving averages (50, 100 and 200 week SMA), indicating a sustained bullish momentum in the medium term.
What stands out is the elasticity of BTC facing global headwinds. Even with the increase in volatility caused by Israel-Iran conflict and fear of U.S. inflation, Bitcoin’s weekly shutdown remains constructive. As long as BTC continues to print out higher lows and defend the 103,600-$105,000 support zone, the road to price discovery remains valid.
Weekly cleaning of the chassis over $109,300 will be a significant bullish trigger, possibly targeting the $120,000-$125K area in the near term. Until then, mergers within this scope remained the main structure.
Featured images from DALL-E, charts from TradingView
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