After Iran just rick rolled us this morning, risk assets have taken a hit across the board, from tech stocks to the broader S&P 500. Yet Bitcoin is still holding strong around $83K.
As long as the king of crypto can hold above the 80K - 82.5K support zone today, I remain firm in my view that Bitcoin can continue higher.
Higher targets would include ~89.5 to 90K (the VAH of the decline’s Fixed Range Volume Profile), and a previous high at 94,50 to 97,940. The extended target is 103,550 to 106,476, which I personally see as the top for Bitcoin this year.
This is the same area we have been watching in our previous projections. Holding above it would keep the broader bullish structure intact, even as geopolitical uncertainty pressures the rest of the market.
The important part now is whether Bitcoin can continue showing this relative strength while equities remain under pressure.
If it can, that would make the 80K - 82.5K area an increasingly important base for the next move higher. If that fails, then the next support to watch is the 200 Day EMA around 75K, as it has acted previously as resistance.
Lower, we have 67.5K, the top of the range where Bitcoin consolidated before a pop higher in August.
