Bitcoin Price Eyes $66.5K as Qatar Pushes US-Iran Talks
Bitcoin's price has rebounded above $64,000 as Qatar reported progress in US-Iran negotiations.
The Qatari Foreign Ministry spokesperson confirmed that regional mediators were working to bring the two countries back to the negotiating table.
This development has eased concerns surrounding global energy supplies and may have a positive impact on demand for risk assets like Bitcoin.
According to technical charts, a 4-hour close above $64,300 could validate a breakout from a descending channel pattern and open the way toward $65,500 or even $66,500.
The Awesome Oscillator is climbing, indicating building bullish momentum on the 4-hour timeframe, but overhead supply remains a concern.
Large sell orders between $64,000 and $65,000 may hinder Bitcoin's progress above the current range.