2026-03-18 22:17:14

False Breakout? Bitcoin Faces Resistance at $76,000

The key support level to watch now is near the $70,000 round number. Ethereum is testing the critical breakout zone of $2,180–$2,200. Bulls need to maintain this area for continued upside. If this breaks, the next support is at $1,900.

Three things are simultaneously impacting the market today:
• The US struck Iran's South Pars gas field, the world's largest natural gas field. Oil prices spiked to $99 instantly.
• Producer Price Index (PPI) came in hotter than expected this morning, with year-over-year growth of 3.4%. The inflation pipeline is refilling before war impacts the data.
• Powell held rates steady and for the first time in Fed history acknowledged the Middle East situation. Markets are unhappy with his tone.

All three are conveying the same message: if oil prices continue to rise, it will hurt all assets, including crypto. Powell has already flagged this concern during his press conference. The 7–10 days post-FOMC have historically been weak for bitcoin. $BTC

BTC-3,92%

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