Middle East Tensions Halt Bitcoin's $82K Breakout

The price of Bitcoin surged from $75,000 to almost $82,000 in just a few days, hitting its highest level since the start of the month.

However, this breakout attempt was halted at $82,000 due to more worrisome news from the Middle East and a technical aspect that prevented another leg up.

New escalations between Saudi Arabia and Iran-backed Houthis have increased tensions in the region. The US State Department warned Americans to 'seriously reconsider travel to and through the region' due to the potential for rapid escalation.

The TD Sequential, which had flashed a buy signal when BTC slipped to $75,000, flipped into a sell signal on Saturday evening as the cryptocurrency tapped $81,500. This suggests that short-term momentum may be getting stretched.