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Crypto Technical Analysis Report – 3rd April 2025
The cryptocurrency market has experienced a remarkable surge in recent days, with Bitcoin (BTC) making significant gains to break above the $87,000 mark. As we analyze this sudden shift, it is crucial to note that the asset’s price movement has been characterized by intense volatility. This development is not entirely unexpected, given the looming U.S. trade tariffs set to take effect on April 2.
Despite short-term uncertainty, our analysts maintain a positive outlook for the long term. The recent 5.53% increase in Bitcoin’s value to an intraday high of $87,333 on April 2 has sparked renewed optimism among investors and enthusiasts alike.
At this juncture, it is essential to examine the market dynamics that have led us to this point. The BTC/USDT Daily Chart presents a compelling narrative, as the asset formed a Bullish Engulfing candle and rallied 15.75% to reach $88,765. This significant upswing has brought the cryptocurrency to the cusp of breaking free from a ten-week downtrend that began on January 20 when it peaked at $110,000.
A decisive close above this trendline could reinforce bullish sentiment and drive further gains in the coming days. However, the asset is currently struggling to overcome resistance and break the key level of $90,000. If it manages to do so with strong volume, prices could potentially rally towards $100,000-$105,000.
Notably, BTC has strong support at $80,000 and $73,500. It is imperative that investors and traders alike maintain a cautious approach and consider their exposure in light of the impending trade tariffs and global economic uncertainty.
As we navigate this unpredictable landscape, it is crucial to remain informed about the market’s developments and trends. ZebPay’s mission is to empower our users with the tools and knowledge necessary to succeed in the rapidly evolving crypto space.
Stay ahead of the curve by keeping a finger on the pulse of the market with ZebPay.
Source: https://zebpay.com/blog/crypto-technical-analysis-report-3rd-april-2025
