Bitcoin’s Ideal Buy Zone: A Glimpse of Hope in a Sea of Tariffs 🏴‍☠️

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It seems that Bitcoin, our dear digital currency, has taken a significant blow over the past 48 hours. It plummeted to a low of $81,332, all thanks to the global market shock triggered by Donald Trump’s latest tariff frenzy, affecting 185 countries. This geopolitical jolt sent ripples through both traditional and crypto markets, dragging Bitcoin down alongside the S&P 500. But fear not, for an analyst on TradingView believes we have entered the “ideal buy zone” for Bitcoin. 🎉

The analyst in question asserts that Bitcoin has now fully entered the “ideal target zone” based on its hourly bullish structure. This structure, now fulfilled, suggests that the recent decline, though steep, is a reasonable correction within a larger pattern. 📊

Bitcoin’s entry into the ideal zone was marked by its break below a key downward trendline on the 1-hour candlestick timeframe chart. This occurred on April 2 when Bitcoin dipped below $84,700, after falling from a lower high of $87,100 on April 2. Such a break provides the optimal entry point to purchase BTC at a lower price, with the potential to ride the wave up if it can rebound around the $81,000 support level. 📈

However, the analyst also issues a word of caution. Bitcoin’s daily closing price remains below the key descending trend line, indicating that the broader downtrend on the daily chart is still in play. This failed breakout attempt adds a layer of risk to the current market setup and highlights the potential for further declines. 🚨

Key Levels To Watch: Resistance And Support Zones Defined

Looking ahead, the analyst outlines critical zones for traders to monitor. If Bitcoin rebounds, the resistance area between $84,576 and $86,000 will be crucial. A clean move above this band would signal a significant shift in market tone. 🚀

However, if BTC fails to hold above $81,000, the focus shifts to the support range between $78,363 and $79,500. Holding this lower band could help Bitcoin avoid further breakdowns, as there is a higher chance of a rebound here. A breakdown below this support range, however, would likely intensify the bearish trend, leaving Bitcoin’s price vulnerable to more declines. 📉

At the time of writing, Bitcoin is trading at $83,695, recovering approximately 2.9% from its intraday low. The immediate market shock following Trump’s tariff announcement appears to be subsiding, and BTC has started to receive inflows again. With this momentum, BTC is now steadily approaching the $84,576 to $86,000 resistance zone. 🌟

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2025-04-05 11:12