Bitcoin (BTC) revisited $80,000 on Friday after US-Iran war nerves sparked 3% daily losses.
Key points:
- Bitcoin’s bullish momentum is gradually returning following a market shakeout driven by renewed geopolitical uncertainty.
- Traders are closely watching support levels in the mid-to-high $70,000 range, viewing them as crucial zones for bulls to maintain control.
- Unusual Bollinger Bands signals suggest Bitcoin could experience heightened volatility in the sessions ahead.
$80,000 emerges as key BTC price battleground
Data from TradingView showed selling pressure on Bitcoin easing ahead of the Wall Street open, allowing BTC price action to stabilize near the $80,000 level.
Thursday saw risk assets come under pressure amid speculation that the US could revive its “Project Freedom” campaign against Iran, while renewed military exchanges between both sides threatened an already fragile ceasefire. The S&P 500 also pulled back after recently hitting fresh all-time highs.
Crypto trader Michaël van de Poppe said the recent pullback was expected after Bitcoin’s strong upward momentum in recent sessions.
“Assets move in waves. Bitcoin has posted several consecutive days of upside momentum, so a period of consolidation here isn’t unusual,” he wrote in a post on X at the time.
“As long as the trend remains intact, I think we’ll see more upside during coming weeks.”
Michaël van de Poppe later said Bitcoin was “doing just fine,” though he stressed that the $76,000 level must continue to act as support.
He added that the first major rally after a bear market typically stalls at resistance before continuing higher, a move he believes could help spark stronger momentum across altcoins.
Meanwhile, crypto trader Jelle also maintained a cautiously bullish outlook, arguing that Bitcoin needed to hold the day’s lows near $79,000.
Referring to chart projections that identified $74,500 as a possible downside target, Jelle said he still expected the highlighted support zone to hold and eventually trigger a rebound to the upside.
Bitcoin volatility indicator points to bigger price swings ahead
On the daily chart, BTC/USD failed to maintain a breakout above the upper Bollinger Bands level, signaling that volatility conditions may still favor larger price moves in the sessions ahead.
As previously reported, bullish signals from the Bollinger Bands were strong enough to prompt their creator, John Bollinger, to open a position through his proprietary investment funds.
Meanwhile, trader SuperBro pointed out on X that the Bollinger Bands are currently at their tightest levels ever on monthly time frames — a condition that often precedes a major increase in market volatility.
