Prediction Bitcoin
Bitcoin price hovers around $87,000 on Wednesday after recovering 4% in the last three days.
Bitcoin (BTC) price hovers around $87,000 on Wednesday after recovering 4% in the last three days. Ethereum (ETH) and Ripple (XRP) find support around their key level, suggesting a recovery on the cards. Traders should keep an eye on Trump’s upcoming “Liberation Day” on April 2, with significant tariff announcements, which could trigger increased volatility in the cryptocurrency market due to the potential impact of reciprocal tariffs.
Bitcoin could rally toward $90,000 if its 200-day EMA holds
Bitcoin price broke above its 200-day Exponential Moving Average (EMA) at around $85,556 on Sunday and rose 4.45% until Monday. However, it hovered around the $87,000 level on Tuesday. At the time of writing on Wednesday, BTC still hovers around $87,000.
If BTC finds support around its 200-day EMA, it could extend the recovery to retest the key psychological level of $90,000. A successful close above this level could extend an additional rally toward its March 2 high of $95,000.
The Relative Strength Index (RSI) on the daily chart reads 51, above its neutral level of 50, indicating increasing bullish momentum. The Moving Average Convergence Divergence (MACD) indicator showed a bullish crossover on the daily chart last week, giving a buy signal and suggesting a bullish trend ahead. Additionally, it shows rising green histogram levels above its neutral level of zero, indicating strength in upward momentum.
However, if BTC fails to find support around its 200-day EMA and closes below $85,000, it could extend the decline to retest its next support level at $78,258.
However, if BTC fails to find support around its 200-day EMA and closes below $85,000, it could extend the decline to retest its next support level at $78,258.