Bitcoin (BTC) rebounded sharply from its multi-week lows as President Donald Trump expressed intentions to end the Iran war in two-to-three weeks.
“Once the geopolitical and macro headwinds clear, we believe the multi-year bullish tailwinds of institutional adoption and regulatory clarity will push Bitcoin to new all-time highs,” Ryan Rasmussen, head of research at Bitwise Asset Management, said, adding:
“The positive price action in March, after five months of negative prices, is a sign that investors are waking up to this, and Bitcoin is on the verge of a breakout from crypto winter.”
Bitcoin’s Bounce From Flag Support Raises $80K-Retest Odds
Bitcoin’s rebound looks like a relief rally off bear-flag support.
A bear flag forms when the price moves higher inside a rising channel after a sharp drop. It often resolves lower unless bulls break above the pattern’s upper boundary.
For BTC, the key upside level is now around $80,000. That target lines up with the bear flag’s upper trendline and the 50-period EMA (the red wave) on the 3-day chart, making it a major resistance zone.
So the setup is simple: Bitcoin can keep rebounding toward $80,000 in the short term, but that area will likely decide what happens next.
If BTC gets rejected there, the bear flag remains active, and the broader downside scenario stays in play.
If bulls decisively reclaim $80,000, it would weaken the bearish setup and suggest the current rebound is turning into a stronger trend reversal rather than just a temporary bounce.
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A confirmed rejection from the upper trendline could send BTC toward the measured downside target near $48,850.
