With geopolitical tensions rising between the U.S. and Iran, global markets are reacting unexpectedly. Despite unsettling news, indices like the S&P and NASDAQ are ascending, oil prices are declining, and the crypto market remains steady. Thanks to a peace-focused tweet from President Trump, there’s a sense of calm amidst the turbulence.
Crypto analyst, VirtualBacon, provides a fresh viewpoint amidst these events, arguing that it’s not a time for fear-driven selling, but conviction-driven buying. Is that compelling enough for you? Let’s delve into the analysis for more insight.
Bitcoin remains fundamentally bullish above $85k, according to the analyst, with its 50-week SMA providing support. The sweet spot for entry lies between $94k and $95k, in alignment with the 20-week SMA. VirtualBacon perceives the current market softness as a buying opportunity, rather than a threat. A potential double-top pattern is in the making, which could be the key to a much-anticipated entry point if the neckline cracks.
It’s notable that on-chain metrics reflect a neutral sentiment. The Fear & Greed Index is at 47, suggesting uncertainty rather than panic. With Bitcoin’s dominance at 64.5%, it continues to dictate the broader market movements.
Now, let’s shift our focus to the altcoins worth buying during this dip. Ethereum recently hit $2,100, precisely where the 0.236 Fibonacci retracement level lies. With ETH/BTC maintaining strong above 0.018, Ethereum is in a macro uptrend. This is a favorable range to start investing, especially if Bitcoin’s price stays over $90k.
Following Ethereum, Solana is slightly weaker, but its $110–$120 zone is broadly seen as a value area. Even though the inverse head & shoulders pattern didn’t come to fruition, the setup remains valid unless SOL/BTC collapses. Meanwhile, XRP is approaching its optimal entry zone between $1.74–$1.80. Yet, traders are being cautious, anticipating confirmation of a potential 3x move.
VirtualBacon also mentions TAO, an AI sector leader, showing strong resilience. If Bitcoin falls to $95k, TAO could provide an entry opportunity at $200, with a stop-loss set at $175. Meme coin PEPE is testing its neckline at $0.009, after maintaining a 15-month support at $0.005. Given its clear structure and growing volume, it’s a top choice among high-risk traders.
