Will Trump’s Tariffs Send Bitcoin Soaring? You Won’t Believe What Happens Next! 😲

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On the forthcoming Wednesday, our esteemed President Trump shall unveil the tariffs destined to be levied upon a multitude of nations. These tariffs, I assure you, shall take effect with the swiftness of a well-aimed quill. The markets, having retreated in recent weeks, now find themselves in a state of anxious anticipation, pondering whether the U.S. stock market and Bitcoin might soon embark upon a most delightful reversal of their current downward trajectories. 🤔

What truly holds sway over the market

In the grand theatre of commerce, it is not the news that possesses the potential to send the markets into a frenzied dance, but rather the elusive quality of ‘certainty’—or as near to it as one might hope to attain. Whether the tidings be dire or splendid, as long as the market can accommodate such news within its calculations, we may be spared the dramatic spikes that so often accompany uncertainty. 🎭

Have the tariffs already been factored in?

Our dear U.S. stock market, along with Bitcoin—whose fortunes are so closely entwined—has experienced a rather pronounced decline in recent weeks, all due to the great uncertainty surrounding President Trump’s impending tariffs. The market, poor thing, has been left in a state of bewilderment, unsure of the severity of the tariffs or the number of nations that shall be ensnared by them.

Thus, when the President makes his grand announcement later this Wednesday, it is conceivable that the market’s prior dip may have been more than sufficient to account for the tariffs, thereby allowing for a most welcome reversal of its current downtrend. How delightful! 🎉

The U.S. stock market poised for a rebound

The S&P 500 has taken a rather unfortunate tumble, plummeting as much as 10.6% from its lofty heights. However, the horizontal support band, ranging from $5,635 to $5,560, currently stands firm, suggesting that a rally may soon be upon us. The Stochastic RSI and the Relative Strength Index, those ever-reliable indicators, are both in splendid positions for a rebound. 🥳

Upon examining the charts of the so-called ‘magnificent seven’ stocks, one observes a similar scenario unfolding. Trend changes appear to be on the horizon, and should one include Bitcoin in this delightful mix, we find yet another asset poised for a most exhilarating ascent. 🚀

Bitcoin requires a nudge

Alas, the short-term chart for Bitcoin reveals a rather formidable ceiling hovering over its price, formed by the horizontal resistance at $85,000 and a descending trendline. The bulls, bless their hearts, require a modicum of impetus in the form of a bullish event—perhaps a spirited spike in the U.S. stock market might do the trick! 🐂

Weekly chart indicates $BTC is ready for a breakout

Upon gazing at the weekly chart of $BTC, one cannot help but notice how primed Bitcoin is for a breakout. A commendable horizontal support has developed beneath the price, and it merely awaits the bulls to breach the ascending trendline and confirm their triumph above. The Stochastic RSI, nestled at the bottom of the chart, is tantalizingly close to the 20.00 level. Should both indicators surpass this threshold, with the blue line triumphantly atop, we may witness a delightful surge in price. 🌟

Yet, let us not ignore the more improbable scenario, wherein $BTC faces rejection at the descending trendline, leading to a disheartening descent to $70,000. Nevertheless, the crux of the matter lies with the U.S. stock market and its interpretation of today’s tariff announcement. How thrilling! 😅

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2025-04-02 13:03