Bitcoin Surges to $86K on Tariff Relief
Bitcoin (BTC) reached an eleven-day high of $86,000 on April 13th, mirroring positive shifts in US financial policy. This surge followed news that President Trump had excluded certain products from tariffs against China, boosting investor sentiment.
Market Volatility and Expert Opinions
While BTC/USD briefly touched $86,000, the price later retreated below $84,000, highlighting weekend market volatility. Despite this fluctuation, Bitcoin showed a 7% weekly gain. Traders remain cautious, citing low volume and overbought conditions as potential risks.
Daan Crypto Trades pointed to the interaction with the 200-day exponential moving average (EMA) at $85,000, highlighting the need for caution, given the upcoming week's anticipated volatility related to tariffs and tech earnings.
Peter Brandt described the recent rebound as "more corrective than impulsive." Rekt Capital focused on a long-term daily downtrend, noting a potential breakout if a retest proves successful. This downtrend, in place since late 2024, is a key hurdle for bullish momentum.
Technical Indicators
A bullish divergence on Bitcoin's Relative Strength Index (RSI) indicator adds another layer of complexity to the analysis. Rekt Capital highlighted this divergence as potentially preceding price reversals to the upside, a pattern observed in past cycles.
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Disclaimer: This article does not provide financial advice. Conduct your research before making any investment decisions.