Over the weekend, Bitcoin costs and crypto markets got here underneath vital stress as tensions between the US and Iran escalated. Following stories of Israel’s assault on Iran, the premier cryptocurrency fell under $64,000, dragging the remainder of the market with it.
Though BTC value seems to have recovered from its conflict-induced stoop, small points stay in its broader construction. In keeping with market consultants, Bitcoin could have averted a adverse final result after sustaining above $60,000. weekend.
BTC Worth Ends February Above Pivotal Assist
In a current publish on the X Platform, Licensed Market Technologist Tony Severino shared his insights on the present technical outlook for Bitcoin costs as February attracts to a detailed. In keeping with crypto market consultants, the main cryptocurrency seems to have rebounded from a key assist stage round $60,000.
If Bitcoin opens under $60,000 on CME this weekend
First time in historical past to fall under the month-to-month uptrend channel – even COVID-19 didn’t open or shut under that line
It is a pivotal second for BTC
However should you occur to bounce, the highest of the channel is now… pic.twitter.com/vHvX3DZ0vY
— Tony Severino, CMT (@TonySeverinoCMT) February 28, 2026
Severino’s evaluation relies on an ascending channel sample on the Bitcoin value chart on a month-to-month timeframe. An ascending channel is a technical evaluation sample characterised by two main (upward) development traces. The higher line connects the swing excessive and the decrease line connects the swing low.
Supply: @TonySeverinoCMT on XAs seen within the chart above, belongings sometimes commerce inside an ascending channel, with the higher line usually performing as a barrier to additional progress and the decrease development line performing as a assist cushion. Buyers can commerce between the sample’s assist and resistance ranges, or after the worth breaks out (a bullish sign) or breaks down (a bearish sign).
If Bitcoin opens under $60,000 on CME this weekend
First time in historical past to fall under the month-to-month uptrend channel – even COVID-19 didn’t open or shut under that line
It is a pivotal second for BTC
However should you occur to bounce, the highest of the channel is now… pic.twitter.com/vHvX3DZ0vY
— Tony Severino, CMT (@TonySeverinoCMT) February 28, 2026
For the market chief, value is approaching the decrease trendline for a lot of February, suggesting a significant choice is imminent. In keeping with Severino, even in the course of the notorious coronavirus crash of 2020, the worth of Bitcoin by no means closed under this ground.
Unsurprisingly, the premium cryptocurrency rebounded from its assist cushion round $63,000, recovering from an early weekend stoop brought on by the continuing battle between the USA, Israel, and Iran. Sometimes, the subsequent goal after this pullback is the midline of the channel, which might be as excessive as $475,000.
Whereas historic knowledge and patterns are sometimes a great way to foretell future market actions, Severino acknowledged that it is really unlikely that the worth of Bitcoin will soar to $475,000. Moreover, the present value construction stays bearish, that means market situations might want to enhance for the flagship cryptocurrency to make the most of this restoration.
Bitcoin value overview
As of this writing, the worth of BTC is round $67,919, reflecting a rise of just about 3% over the previous 24 hours.
The value of BTC on the every day timeframe | Supply: BTCUSDT chart on TradingView
Featured picture from iStock, chart from TradingView
