Bitcoin rose again after President Donald Trump's announcement about delaying the implementation of new tariffs for 90 days. The cryptocurrency broke its recent lows and is already recording significant gains, reigniting optimism among investors and analysts.
Technical indicators signal a possible bullish trend
Support and resistance
According to cryptocurrency analyst Ali Martinez, Bitcoin has broken a previous consolidation channel, indicating a possible continuation of the bullish trend. He emphasizes that if the BTC price remains above the critical support of $80.7k, the next resistance to be tested would be $84k, potentially advancing to $87k.
Another renowned analyst, Rekt Capital, highlighted that Bitcoin is only 2% away from breaking its descending trend line, a move that could trigger a new phase of sustained appreciation.
Additionally, the asset has remained within a critical range between two Exponential Moving Averages (EMAs), which may indicate a decisive moment in the coming days.
Moving averages and reversal moment
The 21-week EMA, a key indicator for bull markets, is currently declining, signaling that Bitcoin still faces resistance. However, analysts believe that a breakout above this level could catalyze a new wave of appreciation.
The dynamic support provided by this moving average could also act as a springboard for new highs if buyers can sustain buying pressure.
On-Chain indicators reinforce the bullish thesis
Increase in Bitcoin reserves on exchanges
Recent data from CryptoQuant reveal an influx of 22,106 BTC into Binance, one of the world's leading exchanges. This movement suggests an increase in market liquidity and may indicate that institutional investors are positioning themselves for a potential bullish rally.
Furthermore, the volume of derivatives also showed significant growth. According to information from Coinglass, open interest in Bitcoin futures contracts rose by 5%, reaching $54.03 billion.
