![](\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjUtMDQvMDE5NWY2ZjktMzU3My03M2Y2LTg2OWQtZDMwNjY1ZTE1MWM3.jpg\")
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Bitcoin (BTC<\/a>) reached new April highs at the April 2 Wall Street open as markets braced for US \u201cLiberation Day.\u201d<\/p>\n BTC\/USD 1-hour chart. Source: Cointelegraph\/TradingView<\/em><\/p>\n<\/figcaption><\/figure>\n\n Data from Cointelegraph Markets Pro<\/a> and TradingView<\/a> showed local highs of $86,444 on Bitstamp, the best performance for BTC\/USD since March 28.<\/p>\n Volatility remained in the run-up to US President Donald Trump announcing a sweeping round of reciprocal trade tariffs.<\/p>\n The measures would be unveiled in an address from the White House Rose Garden at 4 pm Eastern Time, with Trump then holding a press conference.<\/p>\n While US stocks traded slightly down after the open, Bitcoin managed to claw back lost ground, acting in a key area of interest filled with long-term trend lines.<\/p>\n As Cointelegraph reported<\/a>, these include various simple (SMA) and exponential (EMA) moving averages, among them the 200-day SMA \u2014 a classic bull market support line currently lost.\u00a0\u00a0<\/p>\n BTC\/USD 1-day chart with 200 SMA. Source: Cointelegraph\/TradingView<\/em><\/p>\n<\/figcaption><\/figure>\n In his latest observations, popular trader and analyst Rekt Capital made additional reference to the 21-week and 50-week EMAs.<\/p>\n \u201cThe consolidation between the two Bull Market EMAs continues. However, the 21-week EMA (green) represents lower prices as it declines,\u201d he wrote<\/a> in a post on X alongside an illustrative chart.<\/p>\n \u201cThis week the green EMA represents $87650. The declining nature of this EMA will make it easier for $BTC to breakout.\u201d<\/p><\/blockquote>\n BTC\/USD 1-week chart with 21, 50 EMA. Source: Rekt Capital\/X<\/em><\/p>\n<\/figcaption><\/figure>\n Rekt Capital flagged more bullish news<\/a> in the making, thanks to BTC\/USD attempting to break out of an extended downtrend on daily timeframes.<\/p>\n He confirmed:<\/p>\n \u201cBitcoin is one Daily Candle Close above & retest of the Downtrend away from breaking out into a new technical uptrend.\u201d<\/p><\/blockquote>\n BTC\/USD 1-day chart. Source: Rekt Capital\/X<\/em><\/p>\n<\/figcaption><\/figure>\n Last month, Bitcoin\u2019s daily relative strength index (RSI<\/a>) metric broke free from its own downtrend<\/a> that had been in place since November 2024.<\/p>\n Continuing on the macro picture, however, trading firm QCP Capital was uninspired.<\/p>\n Related: <\/strong><\/em>Bitcoin sales at $109K all-time high ‘significantly below’ cycle tops \u2014 Glassnode<\/strong><\/em><\/a><\/p>\n Risk assets, it told Telegram channel subscribers on the day, were likely to \u201cremain under pressure\u201d following the tariffs announcement.<\/p>\n \u201cIn crypto, sentiment remains broadly subdued. BTC continues to trade without conviction, while ETH is holding the line at $1,800 support. Across the board, crypto markets are showing signs of exhaustion with numerous coins down 90% YTD, with some shedding over 30% in the past week,\u201d it summarized.\u00a0<\/p>\n \u201cWithout a material shift in macro or a compelling catalyst, we don’t expect a meaningful reversal. While light positioning could support a grind higher, we’re not chasing any upside moves until the broader macro picture improves.\u201d<\/p><\/blockquote>\n Previous tariff moves<\/a> in Q1 almost unanimously delivered downward BTC price reactions.<\/p>\n Other industry participants were more hopeful, including asset management firm Swissblock, which argued that \u201cno sign of an imminent collapse\u201d occurred on Bitcoin.<\/p>\n \u201cWill $BTC hold as a hedge, or follow TradFi into a pullback?\u201d it queried<\/a> in an X thread on March 31, describing BTC price action as being \u201cat a crossroads.\u201d<\/p>\nBitcoin teases breakout in US tariff countdown<\/h2>\n
Analysis warns $76,000 BTC price may return<\/h2>\n