Bitcoin (BTC) is indecisive: Time is running out.

Time is running out for Bitcoin (BTC), which has exceeded $61,000 with the relative calming of geopolitical tensions.

The fact that the Israel-Iran conflict has calmed down somewhat has caused Bitcoin to move upwards. With the reaction it received from $60,000, BTC, which has exceeded $61,000, is pricing in a short range. The next move of the leader of cryptocurrencies, which does not currently give a clear picture, is a matter of curiosity. In particular, the approaching US presidential elections will increase volatility in Bitcoin.

The $60,000 region worked as support during the downward movement on October 1, giving hope to both the market and investors. However, if the Israel-Iran tension continues to increase, this support area may lose its strength with each passing day. As of the writing of the news, BTC, which is trading at $61,256, may decline to $56,602 - $52,614 and $50,580, respectively, if it breaks $60,000 downwards.

News flow regarding Israel-Iran in particular will play an important role in this process. Daily closings below the recently tested bottom of $52,614 may lead to declines towards $40,000 - $42,000.

If the Israel-Iran conflict calms down, the US presidential elections have a positive impact on the market, or BTC rises above $63,000, an upward move towards $64,758 - $67,091 - $70,500 and $73,684 may occur, respectively. In such a scenario, the $70,500 level will be critical. Weekly closings above this level may strengthen the crypto rally.

Ali Martinez, known for his cryptocurrency analysis, stated that the falling channel structure in Bitcoin could lead to a drop to $52,000. BTC, which is currently close to the middle band of the falling channel, could test $52,000 if the technical structure works. According to technical analysis, the $58,000 - $59,000 band will be important. This region coincides with the middle of the falling channel. Any process that remains below the $58,000 - $59,000 region will point to $52,000.

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