Bitcoin costs and cryptocurrency markets got here beneath important strain over the weekend as tensions between the USA and Iran escalated. The highest cryptocurrency fell under $64,000 after stories emerged that Israel had attacked Iran, pulling the remainder of the market with it.
Whereas the BTC worth seems to have recovered from the conflict-induced droop, small points nonetheless stay with BTC’s broader construction. Based on market consultants, Bitcoin might have prevented a destructive consequence after holding greater than $60,000. weekend.
BTC worth closes February above essential assist
In a current submit on the X Platform, Chartered Market Technician Tony Severino shared insights on the present technical outlook for Bitcoin worth as February approaches. Based on cryptocurrency market consultants, the flagship cryptocurrency seems to have rebounded from a essential assist degree round $60,000.
If Bitcoin opens under $60,000 on CME this weekend
For the primary time ever, there’s a hole under the month-to-month uptrend channel. Even COVID-19 did not open or shut under the road.
This can be a pivotal second for BTC
Nevertheless, if it bounces, the highest of the present channel is… pic.twitter.com/vHvX3DZ0vY
— Tony Severino, CMT (@TonySeverinoCMT) February 28, 2026
Severino’s evaluation relies on the rising channel sample on the month-to-month Bitcoin worth chart. A rising channel is a sample in technical evaluation that’s represented by two most important (upward) pattern traces: the higher line connecting the swing highs and the decrease line connecting the swing lows.
Supply: @TonySeverinoCMT on XAs you’ll be able to see within the chart above, the asset usually trades inside a rising channel, with the higher boundary typically appearing as a barrier to additional progress and the decrease trendline appearing as a assist cushion. Traders can commerce between the sample’s assist and resistance ranges or after the worth breaks (a bullish sign) or declines (a bearish sign).
If Bitcoin opens under $60,000 on CME this weekend
For the primary time ever, there’s a hole under the month-to-month uptrend channel. Even COVID-19 did not open or shut under the road.
This can be a pivotal second for BTC
Nevertheless, if it bounces, the highest of the present channel is… pic.twitter.com/vHvX3DZ0vY
— Tony Severino, CMT (@TonySeverinoCMT) February 28, 2026
For the market leaders, costs have been approaching the decrease pattern line for many of February, suggesting an essential choice is imminent. Based on Severino, the Bitcoin worth has by no means closed under this decrease restrict, even throughout the notorious coronavirus disaster in 2020.
Unsurprisingly, the highest cryptocurrency bounced again from its assist cushion of round $63,000, recovering from an early weekend droop triggered by ongoing clashes between the US, Israel and Iran. Usually, the following goal after such a bounce is the channel’s midline, which might attain as excessive as $475,000.
Previous knowledge and patterns are sometimes a great way to foretell future market actions, however Severino acknowledged that the possibilities of the Bitcoin worth hovering to $475,000 are literally slim. Furthermore, the present pricing construction stays weak. Because of this market circumstances might want to enhance for the flagship cryptocurrency to reap the benefits of this rebound.
Bitcoin worth at a look
As of this writing, the BTC worth is round $67,919, up practically 3% within the final 24 hours.
The worth of BTC on the each day timeframe | Supply: BTCUSDT chart on TradingView
Featured picture from iStock, chart from TradingView
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