Bitcoin (BTC) starts a new week facing fresh macro risks as gold plummets and traders wait for $50,000.
BTC price action ends the week below a key trend line, and traders see little more than an early-week bounce for bulls.
Price looks more and more like it is repeating January’s bear flag — and targets now call for new multiyear lows.
Gold enters a technical bear market and oil returns to $100 as Iran tensions continue.
Traders start to consider Fed rate hikes in 2026, but history could still offer risk assets some relief.
Bitcoin’s long-term holders have been selling at a loss throughout March.
Bitcoin weekly close loses 200-week trend line
After a rough weekend, Bitcoin struggled to reclaim support as TradFi traders returned to start the week.
Data from TradingView shows price dipping to near $67,400 into the weekly close, which lost control of the key 200-week exponential moving average (EMA) trend line.
Analysis previously saw a close above the 200-week EMA, currently at $68,300, as key to protecting bulls going forward.
BTC/USD one-hour chart with 200-week EMA. Source: Cointelegraph/TradingView
In his latest X analysis on BTC price action released on Sunday, trader CrypNuevo forecast that the market would continue to hinge on geopolitics.
“It feels like we’ll be stuck in this range for the next month too,” he summarized.
“We could see some conflict escalation (uncertainty) next week that could trigger a new visit to the range lows where an interesting 4h long wick still sits there.”BTC/USDT four-hour chart. Source: CrypNuevo/X
CrypNuevo referred to Bitcoin’s sub-$60,000 swing low seen in early February.
“In LTF, I’ll be favoring a potential price rotation to $65k next week,” he continued about low time frames.
“I’d like to position for this around $70k if we see a short-lived push to the upside at the start of the week. But with caution, because acceptance above $71k would invalidate it and I’d long to $73k-$74k.”Crypto liquidation history (screeshot). Source: CoinGlass
Liquidations stayed high into Monday, with over $400 million erased over 24 hours, per data from CoinGlass.
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