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The cryptocurrency market is currently experiencing heightened volatility, 
particularly with Bitcoin (BTC) fluctuating dramatically. Recently, the price 
dipped below $99,000 before rebounding to over $106,000 within a span of just 
24 hours. Bullish Bitcoin Setup Amid Geopolitical Tensions In a recent post on 
social media platform X (formerly Twitter), analyst Cyclop suggested that 
despite the current market conditions, BTC exhibits a bullish setup 
reminiscent of the patterns seen in March 2020. The analyst noted that Bitcoin 
appears to be mirroring its past movements, with a brief dip followed by a 
rally for both BTC and altcoins. Cyclop drew parallels between the ongoing 
geopolitical tensions involving Israel, Iran, and the US and the market 
dynamics observed during the COVID-19 crash. Related Reading: Dogecoin About 
To Explode? ‘Don’t Send It Too Hard,’ Analyst Warns While acknowledging that 
geopolitical strife and global market panic are distinct issues, he pointed 
out that both scenarios resulted in sharp but temporary sell-offs followed by 
swift recoveries. According to Cyclop, the current market setup displays 
similar characteristics: widespread fear, a risk-off sentiment among 
investors, and global uncertainty. He emphasized the importance of 
understanding the timing of resolution to these tensions, suggesting that for 
a robust rally, several bullish catalysts are necessary to alleviate market 
uncertainty. He identified three key factors: potential interest rate cuts, a 
ceasefire between Iran and Israel, and Bitcoin holding crucial support levels. 
$120,000 By Year-End? Recently, a ceasefire was declared following 12 days of 
intense conflict between Iran and Israel. In a notable public statement, 
President Donald Trump criticized both nations, suggesting that their actions 
were misguided. This period of relative calm is seen as a positive indicator 
for the market. Cyclop highlighted that maintaining the $100,000 level for 
Bitcoin was crucial, and the cryptocurrency has successfully broken through 
the $106,000 barrier, signaling further growth. Furthermore, Ethereum (ETH) 
has also shown signs of a quick recovery alongside Bitcoin with its price 
nearing the key $2,500 level. Cyclop advised investors not to attempt to time 
the market perfectly, as reversals can often feel unsettling and uncertain. 
Related Reading: Ethereum Bounces Hard After Support Bluff, A False Alarm Or 
Fresh Rally? Looking ahead, Cyclop anticipates a consolidation phase for 
Bitcoin within the $102,000 to $106,000 range, with expectations of a breakout 
that could push BTC to an all-time high of around $120,000 by November or 
December of this year. As of this writing, Bitcoin is trading at $106,500 per 
coin. Despite ongoing economic uncertainties, the market’s leading 
cryptocurrency has seen a 75% increase year-to-date. However, Bitcoin is still 
trading nearly 5% below its record high of $111,800, which was reached on May 
23. The most important resistance level is $110,200, which has prevented a new 
price discovery phase for Bitcoin on two occasions. Featured image from 
DALL-E, chart from TradingView.com

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After the Bitcoin price breakdown below $100,000 over the weekend, multiple 
new narratives have emerged for where the digital asset may be headed. Calls 
for the next Bitcoin bear market continue to ring loud as analysts predict 
lower prices. One crypto analyst, known on X as Astronomer, has taken to the 
platform to give investors a possible roadmap of where the cryptocurrency is 
headed next and where to start buying for maximum gains. Next Course Of Action 
After Crash Following the Bitcoin price crash, Astronomer pointed out that the 
price had fallen below the expected close. However, it seems that the decline 
was not completely over, as there could be another final drop. This could come 
after the market reversal that has taken hold over the last few days, 
presenting another buy opportunity. Related Reading: XRP Price At Risk Of 20% 
Crash To $1.55 If This Level Fails To Hold From here, the crypto analyst 
explains that there could be a reversal toward the $95,000 level, and also a 
possibility of a bounce toward $110,000. As a result of this, the next area of 
action that investors could start buying from is placed at the $97,000 level, 
but the price could go lower. Astronomer explains that weekend lows are 
usually taken out, and with this weekend low still above $97,000, the price 
could revisit this territory. Nevertheless, the analyst explains that those 
who have been sidelined throughout the rally, or those who want to begin 
getting into the market, the Bitcoin price at around $97,000 is a good place 
to start. In addition to the current market factors, the analyst also points 
to sentiment and geopolitics as supporting the analysis. “It&#8217;s a shame we have 
to take advantage of blood being shed, from what&#8217;s happening in the world, but 
also from the bears soon at the end of this dip,” the analyst said. Where Is 
The Bitcoin Price Headed? With the announcement from US President Donald Trump 
that Israel and Iran have agreed to a ceasefire, the market has already seen a 
recovery, with the Bitcoin price rallying to $106,000 initially. This has 
already triggered a turn in the sentiment from Fear back to Greed as investors 
begin piling in again. Related Reading: Bitcoin Dominance Hits New Cycle High 
Above 66% – How This 4-Year ATH Affects Altcoin Season In a subsequent post, 
Astronomer explains that missing out on the buy below $97,000 is no cause for 
alarm. But cautions against buying now due to fear. The analyst explains that 
such a move is not advisable as it could lead to losses, as buying during high 
euphoric times is not advisable. Given this, it is likely better to wait for a 
correction before going into the market. “Buying higher now during high 
euphoric times (especially locally), is a worse idea,” Astronomer warned. 
“Create good habits, create a solid plan, and stick to both.” Featured image 
from Dall.E, chart from TradingView.com