Last week, Bitcoin (BTC) decided to play hard-to-get with the US stock markets. It flatlined like a washed-up reality star, while the S&P 500 crashed harder than my hopes after a bad jokeāa 9% nosedive, to be exact š¬. Apparently, Mr. Trumpās grand tariff announcement on April 2 set this drama in motion. Then, as if on cue, China replied with new tariffs on US goods. Even gold, that old reliable, took a 1.9% hit. Ouch.
In a twist of ironic fate, Mike Alfred from Alpine Fox chimed in on X, insisting that a gold bull market is a warm-up act for Bitcoin. In past seasons, gold led Bitcoin on a short catwalk, only for Bitcoin to overtake it by growing 10 times its size. As if this time will be any different, right? Talk about dĆ©jĆ vu with a twist of absurdity š.
So, while Bitcoinās mini breakout might seem like a glimmer of hope, my dear traders, donāt throw a party yet. The overall macroeconomic forecast is as murky as my memory after a wild night out. If the US markets decide to host another sell-off party, the crypto world might just crash it too.
A few altcoins are flexing their muscles on the charts, but maybe hold your horses until the overall vibe turns bullish. And if Bitcoin dares to break its pesky resistance, then who knows which cryptocurrencies will hitch a ride to the moon? š
Bitcoin Price Analysis
Our fearless Bitcoin bulls are trying to crash the resistance party, yet they havenāt managed to shove the bears off the stage either. Itās like watching an endless tug-of-war where both teams are a little too polite to actually insult each other.
The 20-day exponential moving average at $84,241 is taking a chill pill by flattening out. Meanwhile, the RSI is playing it cool just below center, hinting at a stalemate between supply and demand. The real magic happens if the bulls break through the resistance lineāthen itās possible the BTC/USDT pair might just high-five its way up to $100,000.
But hereās the kicker: $80,000 is our safety net. If Bitcoin trips at this level, we could see it slip to $76,606 and maybe even $73,777. Not exactly a graceful fall, but hey, gravity doesnāt care about your feelings!
The price has been doing a little dance between $81,000 and $88,500, with moving averages and RSI signals hinting at more of the same range-bound shenanigans. If buyers get cheeky and push the price above $85,000, we might see a rally to $88,500. And if the bulls throw a proper party, who knowsā$95,000 might be on the menu.
However, if the bears take the wheel when Bitcoin dips below $81,000 to $80,000, prepare for a slide back to $76,606. Buckle up, folks; itās a wild ride!
Pi Network Price Analysis
Oh, Pi Network (PI)āthe perennial underdog that peaked at $3 on Feb. 26 and then embarked on a downward spiral faster than a bad one-liner. But on April 5, a tiny relief rally hinted that someone might be buying on the cheap.
Any recovery, though, is expected to face selling at the sticky 20-day EMA (0.85). If the PI/USDT pair stays near this level, it means the bulls are clinging on for dear life, potentially setting the stage for a rally. Next stops? The 50% Fibonacci retracement at $1.10 and then $1.26. Cue the dramatic music!
But donāt get too excited: if PI breaks below $0.40, we might see it nosedive to a measly $0.10. Money talks, and in this case, it screams ānot today!ā
On the 4-hour chart, bears are holding the defense along the 50-SMA, while bulls are valiantly trying to keep PI above the 20-EMA. If the price bounces off this level, maybe the bulls will finally kick things into high gearāperhaps even reaching $1.20. But if it slips back, expect more bearish antics.
OKB Price Analysis
OKB (OKB) made a flashier comeback than a celebrity on a red carpet alert on April 4, closing above the moving averages. The bulls are clearly auditioning for a comeback tour.
The price then strutted past the short-term resistance at $54 on April 6. However, if OKB hits the descending channelās resistance, expect it to politely invite renegade sellers to the party. A sharp turn below $54 could mean a few more days of channel-surfing.
On the flip side, if buyers stubbornly defend the $54 resistance, thereās a strong possibility of a breakout to $64 and even $68. The classic inverted head-and-shoulders pattern might just complete if the price closes above the neckline. And if that happens, we might march toward $70 faster than you can say ācryptocurrency fever.ā
But donāt celebrate too earlyāsellers are ready to pounce if the 20-EMA is broken. A swift drop to the 50-SMA could drag the price down to $45. Drama, schramma!
GateToken Price Analysis
GateToken (GT) has been playing defense at the 50-day SMA ($22.05) like itās guarding backstage passes at a concert. This level is key, folks.
With moving averages and RSI signals more confusing than a cryptic punchline, itās hard to tell if the bulls or bears are winning. A breakout above $23.18 might propel GT to $24, and if that happens, the bulls might keep rolling toward $26!
But if GT canāt keep above the 50-day SMA, expect a slippery slide to $21.28 and then $20.79. Not the kind of slide you want at a party!
After a bout of resistance-line rejection in the descending channel, buyers might seize the opportunity on a breakout, rallying the pair to $23.18 and even $24. Itās the kind of comeback story that makes you want to high-five your neighbor.
Cosmos Price Analysis
Cosmos (ATOM) is trying to find its footing, but every time it nears a bottom, selling kicks in at $5.15. At least the bulls have managed to keep ATOM above the moving averagesāsmall victories count, right? š
If ATOM bounces off the moving averages with some pizazz, it might shatter the $5.15 ceiling and rocket toward $6.50 or even $7.17. Cue the confetti!
However, if it falls below the moving averages, a range-bound limbo might ensue between $5.15 and $4.15āwith sellers reclaiming control if it drops further. No cosmic miracle here, just good old market gravity.
On the 4-hour chart, the tug-of-war at the 20-EMA between bulls and bears is as entertaining as a sitcom brawl. Stay above the 20-day EMA, and the bulls will likely try to push ATOM to $5.15. If they succeed, a new upward saga might just begin.
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2025-04-06 22:46