Despite the tension and fear in the market due to the Israel-Iran standoff, Bitcoin seems to be taking advantage of this bearish sentiment to maintain a sideways or downward trend. However, looking at the chart pattern, this is likely to be a very bullish bull flag.

Times are changing. In traditional markets, the S&P 500 and Nasdaq 100 fell by about 4.2%, reflecting the overall panic sentiment. And in the cryptocurrency space, things are not going well. Although the Fear and Greed Index still leans towards "greed", Bitcoin has fallen by 16% since April 8, and fell by 17.5% in early March. Fortunately, there was a rebound midway, which allowed BTC to fall back to the $60,000 support level again.

One good thing about Bitcoin's ups and downs is that it provides clues to the bull flag pattern in technical analysis. If BTC can hold the $63,000 support level or even fall to the low $60,000, this will confirm the bottom of the bull flag.

Furthermore, if BTC decides to break out to the upside, the longer it stays inside the bull flag, the more potentially explosive its move could be. Based on the measured volatility of the bull flag, BTC could reach $96,000.

On the other hand, if the BTC price breaks below the bottom of the bull flag and a sustained decline breaks the $59,000 support, then the next possible target would be a sharp correction to $51,000. If Bitcoin chooses this route, then a 30% reversal could be in store.

At the moment, traders and investors may be feeling pretty nervous. Inflows into US spot Bitcoin ETFs have declined over the past week or so, while net outflows from the Grayscale Bitcoin Trust (GBTC) have seen funds flow from USD to BTC, rather than the other way around.

On the one hand, keeping an eye on any new conflict developments, and on the other hand, keeping an eye on the decline in traditional stock markets, could bring more distress to the Bitcoin and cryptocurrency markets.

However, one might question whether Israel is really willing to endanger itself by taking tit-for-tat action against Iran again? Even the most ardent warmongers must realize that there are no winners if the conflict escalates in this way.

So, with that in mind, the time to buy might be when everyone else is panicking and selling.Is it a rather foolish choice to bet on the good fortune brought by bravery, or to invest in a potential war? In times like these, wealth can be a winner or a loser. #SHIB #sui #WIF $BTC $ETH