Bitcoin Continues Slide Below $66K as US/Israel/Iran Conflict Enters Day 3 – BTC TA March 2, 2026

Source: TradingView

Zooming out into the weekly time frame it can be noted that the huge falling wedge pattern can be extended out a lot further, which helps to enclose the recent price action. If this is indeed the right pattern, it would be expected that the price breaks out to the upside before getting to the bottom.

Generally, the $BTC price breaks out of patterns like these about two thirds of the way along. This would perhaps suggest that $60,000 was the bottom. That said, it doesn’t mean that the price will just break out of the wedge and head higher straight away. Bitcoin bear markets tend to grind along the bottom for a few months first. Also, when all are thinking that the bottom is behind them, the price will come back down to make a double bottom. This has happened in every bear market so far.

$1 million and beyond, or zero?

If you are a Bitcoin investor, the main takeaway here is that a bottom is forming. It can take a lot longer for this process to complete, and it can be a bumpy ride, but if you have conviction you just need to wait it out.

For those who thought they had missed their chance to get into Bitcoin when the price was up at $126,000, we are now at around half of this. If Bitcoin continues to do what it’s been doing for the last 17 years it will just be a case of price averaging and remaining patient.

As it has been said, Bitcoin is either going to $1 million and beyond, or it is going to zero. How the $BTC price reacts to this bear market could give us an idea of which particular scenario is more likely to play out.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.