Bitcoin holds key trendline support for third week as oil hits 5-week high on Iran fears

The article references a key long-term trendline that has acted as support for three consecutive weeks, indicating a crucial technical level near current prices.

The target is based on longer-term analysis, but maintaining it during geopolitical uncertainty suggests confidence in a sustained uptrend over the coming months.

Historically, geopolitical risks can cause short-term volatility in crypto, but Bitcoin's ability to hold support suggests it may be decoupling from traditional risk-off moves.

Rising tensions between the US and Iran raise the specter of military conflict that could disrupt oil production and transit in the Persian Gulf.

If conflict intensifies, oil could test recent highs or even surpass them depending on the severity of supply interruptions; however, quick de-escalation would likely pull prices back.

Geopolitical oil spikes tend to be short-lived unless actual supply is disrupted; traders should watch for diplomatic developments.