Crypto Technical Analysis Report 3rd April 2025
Bitcoin bulls have successfully driven the price above $87,000 despite looming U.S. trade tariffs set to take effect on April 2. While short-term volatility remains a concern, analysts maintain a positive long-term outlook. Kicking off Q2 with strong momentum, Bitcoin surged 5.53% to an intraday high of $87,333 on April 2. The cryptocurrency is now attempting to break free from a ten-week downtrend that began on January 20, when it peaked at $110,000.
A decisive close above the trendline could reinforce bullish sentiment and drive further gains in the coming days. With markets bracing for heightened volatility ahead of President Trumps Liberation Day tariffs, Bitcoins price movement is expected to react further following todays White House press conference at 4 PM Eastern Time.
BTC/USDT Daily Chart:
After making a recent low of $76,606, BTC formed a Bullish Engulfing candle and rallied 15.75% to reach $88,765. The asset is facing resistance and struggling to break the downsloping trendline and the key level of $90,000. If it manages to do so with strong volume, prices could further rally to $100,000$105,000. BTC has strong support at $80,000 and $73,500.
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