Bitcoin (BTC) bulls are trying to make a comeback by maintaining the price above the 200-day simple moving average ($84,899) over the weekend. Bitget Research chief analyst Ryan Lee told Cointelegraph that Bitcoin needs to close above $85,000 this week to signal strength and “prevent a drop to $76,000.” Lee added that a close above $87,000 would give a clearer bullish confirmation.
Tariff wars have rocked both traditional markets and the cryptocurrency markets in the past few days. Nansen research analyst Nicolai Sondergaard believes the markets may remain under pressure until April 2. While speaking on Cointelegraph’s Chainreaction daily X show, Sondergaard said that if the tariffs get dropped, it could act as “the biggest driver at this moment.”
Crypto market data daily view. Source: Coin360
Although analysts remain bullish for the long term, some expect a short-term decline. Analyzing previous bear market declines, market analyst and author Timothy Peterson said in a post on X that the current bear market should only last for 90 days. The analyst anticipates a fall in the “next 30 days followed by a 20-40% rally sometime after April 15th.”
If Bitcoin starts a sustained recovery, several altcoins could follow suit. What are the top cryptocurrencies that look strong on the charts?
Bitcoin price analysis
Bitcoin is struggling to rise and sustain above the 20-day exponential moving average ($85,246), but a positive sign is that the bulls have not ceded much ground to the bears.
BTC/USDT daily chart. Source: Cointelegraph/TradingView
That increases the possibility of a break above the 20-day EMA. If that happens, the BTC/USDT pair could rise to the 50-day SMA ($90,469) and thereafter to $95,000.
Conversely, if the price turns down from the 20-day EMA and breaks below $81,000, it suggests that the bulls have given up. That could sink the pair to $80,000 and subsequently to $76,606. Buyers are expected to defend the $76,606 level because a break below it may deepen the correction. There is strong support at $73,777, but if the level falls, the next stop could be $67,000.
BTC/USDT 4-hour chart. Source:…
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