President Donald Trump’s announcement, the To suspend US trade tariffs for 90 dayshad an immediate impact on the financial markets.
Both stocks and cryptocurrencies react strongly. Bitcoin (BTC) recorded a significant increase, with the trading volume doubled compared to the average – a sign of increased purchase interest.
Technical signals and market outlook
The S&P 500 also reacted positively with a so -called “Monster Candlestick”which indicates a wave of optimism.
The RSI of the index is at a relatively low level, comparable to the time during the Covid crash, which, according to analysts, indicates strong soil formation.
On the Bitcoin-Chart was created Engulfing candlestickwhich is usually a harbinger of further climbs. At the same time, investors look at the publication of the CPI and PPI data that could increase short-term volatility.
These BTC courses are important
The S&P 500 holds important levels of support and has scope for movement towards 5600–5700 points.
For Bitcoin, several Bullish patterns can be seen, including a large one and a smaller one Falling wedge as well as a Double Bottom In smaller time frames.
The course recently broken the resistance in the range of $ 81,000-82,500, which now acts as support. The 50-week average offers additional support.
Liquidity analyzes show increased activity around 90,000 and $ 100,000. A striking one Futures-Gap With a high at $ 84,505, the price target is largely pursued.
Traders expect long positions in the range of $ 80,000-81,000 and consider short positions with a decline under $ 82,500. First winning goals
Three scenarios: from reset to breakout
There are three scenarios for Bitcoin:
Bearish: Increase to $ 85,000-86,000, followed by a decline of less than $ 81,000-82,500 in the direction of $ 66,000.
Bullish: Outbreak through the Falling Wedge with support at $ 81,000, price targets at 108,000, 122,000 and $ 155,000.
Neutral: First a decline from $ 78,000-79,000, followed by a higher low and subsequent outbreak.
The Monthly Charge shows a retest of the outbreak level. If this if this could mark the beginning of the last phase of the current bull market-with potential for new all-time high over $ 100,000.