Bitcoin
$
81,980 prices made a strong start in April but were disrupted by new tariffs announced by Trump on April 2. Despite this, the attempts for price increases in the past 24 hours raised expectations that the market could regain momentum. However, the sharp decline in price towards the end of the day left investors with lingering doubts. In the current scenario, traders are focused on two critical technical levels for Bitcoin.
Possible Rally If Resistance Is Overcome
The leading cryptocurrency, Bitcoin, has lost 10.64% in value since the beginning of the year. Although it reached an all-time high of $109,586.27 in January, the end-of-month return stood at only 9.54%. In February, uncertainty from Trump’s aggressive tariff plans led to a 17.5% monthly decline for the largest cryptocurrency. The drop slowed somewhat in March, with a recorded loss of 2.19%.
Bitcoin Analysis, Commentary As April began, the market showed slight signs of recovery. With a 1.30% rise since the start of the month, yesterday’s sudden movement caught the attention of traders. Bitcoin attempted to break both the 200-day exponential moving average (EMA) and the descending resistance line. However, by the end of the day, the price fell to $82,530.38, forming a strong bearish candle. This indicates a lack of complete confidence in the market.
Price Increase Dependent on Two Levels
From a technical perspective, the daily BTC chart shows that the 200-day EMA is around $85,417.58, which is only 2.23% above the current price. Similarly, the descending resistance line nearly coincides with this level. This means that if Bitcoin’s price can rise by about 2.23%, it could surpass both key levels.
Bitcoin Price Analysis, Commentary In today’s trading, the price has risen by 1.36% so far. Experts believe that if the price can sustain above these two technical levels, it could trigger a strong upward movement. Otherwise, there is a risk that the current downward trend could continue. Experts assert that in this environment of economic uncertainty, traders might return to Bitcoin. Investors who previously turned to gold as a safe haven may come back to the largest cryptocurrency if it breaks these levels with volume support. Such a return could strengthen buying pressure in the market, paving the way for a rising trend. However, traders need to pay attention not only to price movements but also to trading volume. A breakout without sufficient volume may not be sustainable and could generate false upward signals. Therefore, in the coming days, both the price and trading volume in the market should be closely monitored.
