Key Points:
- BTCUSD (Bitcoin) rises 2.79%, reaching $87,472.81.
- Trump’s flexible tariff remarks boost market sentiment.
- Investors cautious, despite easing tariff fears as tariff measures to be more targeted, sparing certain industries.
BTCUSD Surges 2.79% Amid Eased Tariff Fears and Bullish Sentiment
BTCUSD (Bitcoin) climbed 2.79%, reaching a high of $87,472.81, as market sentiment turned more positive on Friday. The uptick was driven by investor optimism that U.S. President Trump’s planned reciprocal tariffs, set for April 2, may be less severe than initially feared. Trump’s comments hinted at “flexibility” in the tariffs, and reports suggested that the measures may be more targeted rather than globally sweeping.
Despite this, caution remained, as global officials, particularly from China and Australia, warned that such trade policies could trigger ripple effects on the global economy.
Technical Analysis
Picture: BTCUSD tests resistance at $87,487.30 after a sharp rally from $83,652.65, as seen on the VT Markets app.
BTCUSD increased by 2.79%, closing at $87,472.81 after opening at $85,096.04. The session saw a sharp rise, reaching a high of $87,487.30 before retracing slightly to close near $87,472.81.
The moving averages (MA 5,10,30) show strong bullish momentum, with short-term MAs consistently above the longer-term moving averages. This suggests continued upward pressure. The MACD (12,26,9) indicates strengthening bullish momentum as the histogram continues to expand, and the MACD line (blue) is well above the signal line (yellow).
Key levels to monitor include $87,487.30 as immediate resistance and $83,652.65 as key support. A break above resistance could signal further upside momentum, while a drop below support may suggest the potential for a correction or reversal.
Market Outlook:
BTCUSD could continue to benefit from the improving sentiment and cautious optimism in the market as investors anticipate more targeted tariffs. However, risks remain, especially if any changes to trade policy could prompt market volatility. Traders should watch for further developments regarding tariffs and adjust their positions accordingly.
