Bitcoin has now broken above its downtrend channel, likely signaling the first bullish shift in trend. So far, tariffs haven’t fully impacted economic data aside from inflation expectations, consumer sentiment, and PMIs. The more tangible effects are likely to start appearing in June. With the bulk of tariffs (excluding those on China) postponed for three months, the next 1.5 months may offer a window for crypto to stage a positive reaction.
Still, it’s too early to celebrate the start of a full bull market. The ongoing tariff situation continues to keep markets on edge, and sentiment could shift quickly even with a single post from Trump.
Technically, breaking out of the trend channel and holding above it is a strong bullish signal. A move above 86K could further boost bullish momentum. Additionally, support from the 20-EMA and 200-SMA is holding, increasing the chances of a sustained breakout.
For now, unless there's a surprise reversal, any dips or a clean break of 86K could present buying opportunities. If BTC follows through on this move, bullish traders should monitor the 91K area closely, as it may act as key resistance ahead of next stage.
Please also check the daily chart too:
Still, it’s too early to celebrate the start of a full bull market. The ongoing tariff situation continues to keep markets on edge, and sentiment could shift quickly even with a single post from Trump.
Technically, breaking out of the trend channel and holding above it is a strong bullish signal. A move above 86K could further boost bullish momentum. Additionally, support from the 20-EMA and 200-SMA is holding, increasing the chances of a sustained breakout.
For now, unless there's a surprise reversal, any dips or a clean break of 86K could present buying opportunities. If BTC follows through on this move, bullish traders should monitor the 91K area closely, as it may act as key resistance ahead of next stage.
Please also check the daily chart too:
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.