Hey everyone, hope you’re having a solid day. Bitcoin actua...

Hey everyone, hope you’re having a solid day.

Bitcoin actually looks like it’s in decent shape right now — but that’s mostly because of the growing chance that the U.S. could get involved in the Israel-Iran conflict. I know a lot of people are only thinking about the short-term impact on crypto, but this situation is way bigger than just the next candle. We’ll get into that in a minute.

Let’s start with the weekly charts.

Weekly momentum is clearly falling, and the dreams of hitting all-time highs this month are fading fast. We’ve got a new upward trendline forming, but breaking through it will be tough unless some major news shakes things up. Realistically, our best shot at that kind of move is during this week’s FOMC meeting. Unlikely — but not impossible.

I’m watching that key support level around 100,372. If we hold there, I’d feel a lot more confident about opening a swing long with some decent leverage.