Bitcoin Continues Bounce as Trump Says Iran War Over ‘Pretty Quickly’: Rally Sustained? – BTC TA March 10, 2026

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So, it turns out that US President Donald Trump is now the de facto market guru. Who knew? On Monday, his offhand comment about the Iran war possibly ending soon sent shockwaves through the stock market, and, naturally, Bitcoin decided to keep its little bounce party going. The S&P 500 did a quick shimmy, and Bitcoin just kept on jumping. But the real question is, will the bulls have enough juice to push this thing to a higher high, or will we all be left holding the bag when the party’s over?

$BTC price reaches $71K but low volume prevents breakout

Now, if you take a gander at the chart above (because who doesn’t love staring at lines and bars that barely make sense?), you’ll notice that Bitcoin has reached a minor trendline, plus some horizontal resistance at $71,850. But here’s the kicker: it doesn’t seem to have enough oomph to break through. The volume is laughably low for a breakout, so expect the price to probably get rejected here, and it may fall back down to the trusty $69,000 level, which is now our friendly neighborhood support.

But, of course, if the bulls can somehow defy all logic, break above this resistance, and smash through the trendline, the magical target will be the last pivot high of $74,000. Otherwise, the bulls might as well pack it up and call it a day.

Short pause or lower high?

Switching to the daily time frame (because who doesn’t love switching charts like you’re playing a game of musical chairs?), we get a better idea of the situation. There were a few decent green candles trying their best to break free, but alas, they were stopped dead in their tracks by a combination of horizontal resistance and that pesky minor trendline. And, of course, the volume is still embarrassingly low. It’s like waiting for a phone call that never comes.

But don’t fret! There’s still plenty of time left in the day for this to change (maybe). A few kind words from the Middle East conflict, perhaps? Who knows! But, if Bitcoin gets rejected from here, it could signal a lower high, which would mean the bulls’ dreams of a trend change would come crashing down, possibly all the way to $66,000. Oh, and don’t be surprised if it plunges to $60,000. Anything can happen in this circus.

Bear flag continues to emerge

The weekly chart is looking somewhat optimistic-if you’re a fan of descending channels, that is. But hold on a second, because a big, bad bear flag is waving its ugly head. If Bitcoin manages to break out above $71,000, and somehow keeps going, we’ll all be watching to see where the price inevitably gets rejected. Spoiler: it’s coming.

If it hits the top of the bear flag and starts to come down, then that’s your official “warning: danger ahead” sign. There may be one more feeble attempt to break through, but if that gets rejected too, well, buckle up. A breakdown could send us below $50,000, and who doesn’t love a good bargain? (Not really, don’t buy it).

But wait! Don’t go selling your Bitcoin just yet! There’s a glimmer of hope. The Stochastic RSI is showing signs of life, as the indicator lines have crossed up, and by the end of this week (or maybe next), they could be above the magical 20.00 level, signaling big upside momentum. But, of course, who knows? It could also mean absolutely nothing.

Will Bitcoin surprise us all and smash through the descending channel to hit an all-time high, or is this just another bear market rally before the next big leg down? Stay tuned. (Or don’t, we’re all probably wrong anyway.)

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2026-03-10 14:19