Bitcoin Hits $86,000 Amid Tariff Relief; Traders Cautious on Volatility
Bitcoin reached $86,000 on April 13, marking an eleven-day high due to changes in U.S. trade tariffs. Despite a 7% weekly gain, traders express caution about volatility. Key indicators suggest both opportunities and challenges ahead for Bitcoin’s price movements.
On April 13, Bitcoin (BTC) reached an eleven-day high of $86,000, responding positively to recent changes in United States financial policy. Data from Cointelegraph Markets Pro and TradingView indicated this surge marked the highest price since April 2, primarily attributed to President Donald Trump’s decision to exempt certain products from trade tariffs imposed on China. Following this news, Bitcoin’s price saw fluctuations due to lower liquidity over the weekend, subsequently dropping below $84,000.
As the week concluded, Bitcoin demonstrated a 7% increase despite beginning at five-month lows. Traders expressed a mix of optimism and caution regarding the price movement. One trader, Roman, remarked on the low trading volume and potential overbought conditions, suggesting skepticism about the breakout. He noted, “If we can remain over 84k through Monday I’ll look for higher but for now this seems sketchy.”
Another trader, Daan Crypto, highlighted the significance of Bitcoin’s price in relation to the 200-day exponential moving average (EMA) positioned at $85,000, anticipating volatility in the upcoming week amid news on tariffs and tech earnings. Peter, a well-known trader, commented that the rebound appeared corrective, not impulsive. Rekt Capital, a popular analyst, pointed out the significance of overcoming a long-term daily downtrend which has persisted since late 2024 as a critical challenge for a Bitcoin bull market.
Additionally, positive signals were noted regarding Bitcoin’s relative strength index (RSI), which indicated bullish divergence. This divergence suggested that while Bitcoin’s price was making lower lows, the RSI was creating higher lows, a pattern indicative of potential upward momentum. The ongoing analysis reflects the dynamic nature of cryptocurrency markets and the complexities affecting Bitcoin’s trajectory.
In summary, Bitcoin’s recent surge to $86,000, influenced by U.S. trade tariff adjustments, demonstrates both potential and volatility in the cryptocurrency market. While some traders express cautious optimism, indicators like the RSI and ongoing market conditions suggest uncertainty persists. For investors, navigating these fluctuations requires careful consideration and research.
Original Source: www.tradingview.com
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