It is a truth universally acknowledged that a cryptocurrency in possession of a volatile market must be in want of stability. On the thirteenth of April, Bitcoin (BTC) achieved an eleven-day high, much to the delight—and consternation—of its ardent followers. The rally, it seems, was closely tethered to the whims of US financial policy, a dance as unpredictable as a debutante at her first ball. 🎭
Data from CryptoMoon Markets Pro and TradingView revealed that BTC/USD had ascended to the lofty heights of $86,000, a figure not seen since the second of April. This surge was attributed to the news that US President Donald Trump had graciously excluded certain key products from his ongoing trade tariffs against China. How very magnanimous of him! 🙌
However, as is often the case in the world of finance, the weekend brought with it a reduction in liquidity, and Bitcoin, ever the fickle creature, dipped below $84,000. Traders, ever cautious, were quick to voice their skepticism. One such individual, known only as Roman, opined on the matter with a tone of mild incredulity:
Call me crazy but I don’t think I trust this breakout on $BTC.
Low volume, overbought stoch, and on a weekend.
If we can remain over 84k through Monday I’ll look for higher but for now this seems sketchy.
— Roman (@Roman_Trading) April 12, 2025
Daan Crypto Trades, another voice in the cacophony, noted the ongoing interplay with the 200-day exponential moving average (EMA) at $85,000. “This is however still a weekend move so far and we know next week will be volatile again with news regarding tariffs and the first big tech earnings coming up,” he remarked, with the air of one who has seen it all before. 🧐
Peter, a well-known trader, described the rebound from the lows as looking “more corrective than it does impulsive.” A sentiment that, while not entirely reassuring, was at least delivered with a certain panache. 😏
Rekt Capital, a popular trader and analyst, saw the true hurdle to a Bitcoin bull market rebound in the form of a stubborn long-term daily downtrend. “Bitcoin has Daily Closed above the Downtrend. Thus, breakout confirmation is underway,” he explained, with the confidence of a man who has charted many a stormy sea. 🌊
“However BTC has previously Daily Closed above the Downtrend but failed its retest (a few of the red circles). Retest needs to be successful and it is in progress.”
As CryptoMoon reported, the daily downtrend, in place since late 2024, is earmarked as a key hurdle for bulls to overcome. A challenge, no doubt, but one that the indomitable spirit of the crypto community is well-equipped to face. 🐂
Another post flagged promising signals on Bitcoin’s relative strength index (RSI) indicator. A classic leading indicator, RSI continued to print another bullish divergence with price on daily timeframes. “Bitcoin is developing yet another Higher Low on the RSI while forming Lower Lows on the price,” Rekt Capital summarized, with the air of a man who has seen the future and found it to be… well, bullish. 📈
“Overall, throughout the cycle Bitcoin has formed Bullish Divergences like this on a few occasions already. Each Bull Div preceded reversals to the upside.”
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2025-04-13 17:22