Bitcoin (BTC) Tests Critical Support Amid Geopolitical Uncertainty—Will it Rebound to $105K or Drop to $102K?

Bitcoin price, after facing constant upward pressure, dropped below the crucial support at $102.8K as the escalating Middle East tensions triggered huge uncertainty within the markets. The recent air strikes by Israel on Iran have created geopolitical pressure, which has intensified the sell-offs. Meanwhile, the BTC price and the entire market have witnessed numerous pressures like these in the recent past and hence are believed to withstand the ongoing sell-off and turn out victorious soon. 

The crypto markets witnessed over $1.1 billion in liquidations, while S&P 500 futures fell 1.9% and crude oil & Gold surged. Meanwhile, from the technical point of view, the BTC chart pattern shows some worrying patterns that point towards more downside. The token printed 3 consecutive daily bearish candles and wiped out the gains incurred earlier this week. With this, the token has reached a crucial level where a rebound could trigger a strong upswing, while a pullback could cause some concerns.