Bitcoin remains mostly rangebound amid uncertainty around US-Iran negotiations and growing concerns about the macroeconomic outlook. We got an upward spike yesterday after Al-Arabiya reported that Qatar and Pakistan presented a compromise proposal that could pave the way for an agreement, but the momentum faded after a diplomat involved in the talks subsequently pushed back against reports that a deal was close.Markets retain some hope of a breakthrough given the recent increase in positive headlines and the proximity to the US midterm elections. A deal would ease inflation and rate hike concerns and improve the risk sentiment, providing some short-term support for Bitcoin.Another potential catalyst could be Friday's US Flash PMIs. A stronger than expected report could trigger a short-term relief rally on improved risk sentiment. However, it wouldn't change the bigger picture, as stronger economic data and persistent inflationary pressures would reinforce the need for further Fed rate hikes. A weak report, on the other hand, could intensify growth concerns and lead to risk aversion, putting further pressure on the cryptocurrency. BITCOIN TECHNICAL ANALYSIS – DAILY TIMEFRAMEOn the daily chart, we can see that Bitcoinextended the gains this week after bouncing from the key 80,000 support. If we get another pullback into the support, we can expect the buyers to continue to step in around the support, with a defined risk below it, to keep targeting a rally into the 98,000 level. The sellers, on the other hand, will want to see the price breaking lower to pile in for a drop into the 75,000 level next.BITCOIN TECHNICAL ANALYSIS – 4 HOUR TIMEFRAMEOn the 4 hour chart, we have a minor resistance around the 84,000 level. If the price gets there, we can expect the sellers to step in around the resistance, with a defined risk above it, to keep targeting a break below the support. The buyers, on the other hand, will look for a break higher to increase the bullish bets into the 87,400 level next.BITCOIN TECHNICAL ANALYSIS – 1 HOUR TIMEFRAMEOn the 1 hour chart, there’s not much we can add here as the sellers will have a better risk to reward setup around the resistance, while the buyers will need a break to open the door for new highs. The red lines define the average daily range for today.UPCOMING CATALYSTSOn Thursday we get the latest US Jobless Claims figures, while on Friday we conclude the week with the Flash US PMIs. This article was written by Giuseppe Dellamotta at investinglive.com.