Bitcoin price fractal points to bull trap that could send BTC below $100K

Escalating tensions in the Middle East and an ominous Bitcoin chart fractal could play a role in sending BTC price back under $100,000.

Key takeaway:

Bitcoin price sits on a slippery slope as tensions in the Middle East and investors’ decision to cut risk threaten a drop under $100,000.

Bitcoin (BTC) reached a weekly high of $110,653 on Monday, but it is currently down 3.5%, dropping to a low of $106,600 on Thursday. Escalating tensions between Iran and Israel, with reports of Israel possibly preparing military action against Iran, have triggered a risk-off sentiment, with BTC posting a reaction.

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