Iran War May Enhance Bitcoin Bear, Fuel Silver Peak - Bear markets are notable for sharp bounces, and Bitcoin has done so. A top reason the crypto may have rebounded roughly 12% to March 4, almost matching crude oil's gain since the start of the Iran war, is highlighted by the graphic showing Bitcoin's almost 25% discount to its 100-week moving average at the end of February. A beaten-up bear market with a worthy catalyst for short covering is how I see crypto. Now what? The 100-week mean is $87,000 and rolling over. About $74,000 is the initial resistance level, and holding above it would signal strength. I see risk leaning toward $50,000. Full report on the Bloomberg here: https://blinks.bloomberg.com/news/stories/tbh5i8kiuptr {BI COMD} #bitcoin #silver @BBGIntelligence(Mike McGlone)