Connect with us

Market

Bitcoin Stuck in Place as Tariffs and Charts Point Both Ways

Published

on


Bitcoin (BTC) enters April on shaky footing. It is caught between fading bearish momentum and rising uncertainty ahead of Wednesday’s highly anticipated “Liberation Day” tariff announcement. Technical indicators like the DMI, Ichimoku Cloud, and EMA lines show mixed signals, with early signs of buyer strength emerging.

The market remains range-bound, with both downside tests and breakout rallies on the table depending on macro developments. With the JOLTS report due today and tariff clarity still pending, Bitcoin’s next major move could be just around the corner.

BTC DMI Shows Buyers Took Control, But Will It Last?

Bitcoin’s Directional Movement Index (DMI) is flashing potential signs of a momentum shift. The Average Directional Index (ADX), which measures the strength of a trend regardless of its direction, has dropped to 28.59 from 40.38 yesterday. That indicates that the current downtrend may be losing steam.

Typically, an ADX reading above 25 signals a strong trend, while values below that suggest a weakening or sideways market. Although 28.59 still shows moderate trend strength, the drop signals fading momentum.

Meanwhile, the +DI (positive directional indicator) has surged to 23.75 from 9.35, while the -DI (negative directional indicator) has fallen to 17.88 from 34.58—suggesting bullish pressure is beginning to build.

BTC DMI.
BTC DMI. Source: TradingView

This crossover between the +DI and -DI could signal an early trend reversal, especially if confirmed by further price action and volume. However, it’s important to note that Bitcoin remains in a broader downtrend for now.

Market participants are also eyeing today’s JOLTS report, a key indicator of U.S. job openings. A stronger-than-expected report could lift the dollar and apply pressure to crypto markets. On the other hand, weaker data could increase expectations of rate cuts, potentially boosting Bitcoin and other risk assets.

With directional indicators shifting and macroeconomic data in play, Bitcoin’s next move could be heavily influenced by external catalysts. Recently, BlackRock CEO Larry Fink stated that Bitcoin could take the dollar’s role as the world reserve currency.

Bitcoin Ichimoku Cloud Shows The Bearish Trend Is Still Here

Bitcoin’s Ichimoku Cloud chart reveals a market still under bearish pressure, despite recent signs of short-term recovery. The price is currently testing the Kijun-sen (red line), which acts as a key resistance level.

While the Tenkan-sen (blue line) is starting to flatten and curl upward—often a sign of momentum shift—the fact that the price remains below the Kumo (cloud) indicates that the broader trend is still bearish.

The cloud ahead is red and descending, suggesting continued downward pressure in the near term.

BTC Ichimoku Cloud.
BTC Ichimoku Cloud. Source: TradingView.

However, the price has briefly pushed into the cloud’s lower boundary, indicating a potential challenge to the bearish structure.

For a stronger trend reversal signal, Bitcoin would need to break above the cloud and see a bullish Kumo twist form. Until then, the Ichimoku setup shows a cautious recovery at best.

Liberation Day Could Strongly Influence Bitcoin Price

Bitcoin’s EMA lines remain bearish. Its shorter-term averages are still below the longer-term ones, an indication that downward momentum persists.

This setup suggests sellers continue to control the trend, and unless reversed, Bitcoin price could revisit key support zones. If the current downtrend accelerates, it may first test support around $81,169. If that level fails to hold, deeper drops toward $79,069 or even $76,643 could follow.

Nic Puckrin, crypto analyst and founder of The Coin Bureau told BeInCrypto the market’s heightened uncertainty ahead of the so-called “Liberation Day” tariffs. He notes that Bitcoin is equally positioned for a sharp move in either direction. It could possibly dip to $73,000 or surging toward $88,000:

“As Liberation Day approaches, the uncertainty around the magnitude of the tariffs is keeping Bitcoin and other risk assets in limbo. (…) Until there is more clarity around tariffs, this range-bound pattern will continue, but if we get softer news than feared or some sort of concessions, we could see a breakout from the current trading pattern. If we do, $88,000 is the level to watch in the short term, but we would need to see a marked increase in volume for this to indicate an extended rally.”

BTC Price Analysis.
BTC Price Analysis. Source: TradingView.

He defends that a tariff shock could make BTC test levels around $73,000:

“If there is a tariffs shock, conversely, we could see BTC breaking down toward $79,000 in the short term, or even further down to the next support level at $73,000 if extreme fear grips markets. – Nic told BeInCrypto.

Still, if Bitcoin manages to flip the trend and gain upward momentum, a climb toward resistance at $85,103 would be the first target. Breaking above that could open the path to higher levels at $87,489 and $88,855.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



Source link

Market

BNB Price Faces More Downside—Can Bulls Step In?

Published

on


Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis.

From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation.
As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape.

In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions.

Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he’s trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences.

Aayush’s journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department.

At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he’s poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush’s unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe.

In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.



Source link

Continue Reading

Market

VanEck Sets Stage for BNB ETF with Official Trust Filing

Published

on


Global investment management firm VanEck has officially registered a statutory trust in Delaware for Binance’s BNB (BNB) exchange-traded fund (ETF). 

This move marks the first attempt to launch a spot BNB ETF in the United States. It could potentially open new avenues for institutional and retail investors to gain exposure to the asset through a regulated investment vehicle.

VanEck Moves Forward with BNB ETF 

The trust was registered on March 31 under the name “VanEck BNB ETF” with filing number 10148820. It was recorded on Delaware’s official state website.

VanEck BNB ETF Filing
VanEck BNB ETF Filing. Source: State of Delaware Official Website

The proposed BNB ETF would track the price of BNB. It is the native cryptocurrency of the BNB Chain ecosystem, developed by the cryptocurrency exchange Binance.

As per the latest data, BNB ranks as the fifth-largest cryptocurrency by market capitalization at $87.1 billion. Despite its significant market position, both BNB’s price and the broader cryptocurrency market have faced some challenges recently.

Over the past month, the altcoin’s value has declined 2.2%. At the time of writing, BNB was trading at $598. This represented a 1.7% dip in the last 24 hours, according to data from BeInCrypto. 

BNB Price Performance
BNB Price Performance. Source: BeInCrypto

While the trust filing hasn’t yet led to a price uptick, the community remains optimistic about the prospects of BNB, especially with this new development.

“Send BNB to the moon now,” an analyst posted on X (formerly Twitter).

The filing comes just weeks after VanEck made a similar move for Avalanche (AVAX). On March 10, VanEck registered a trust for an AVAX-focused ETF. 

This was quickly followed by the filing of an S-1 registration statement with the US Securities and Exchange Commission (SEC). Given this precedent, a similar S-1 filing for a BNB ETF could follow soon.

“A big step toward bringing BNB to US institutional investors!” another analyst wrote.

Meanwhile, the industry has seen an influx of crypto fund applications at the SEC following the election of a pro-crypto administration. In fact, a recent survey revealed that 71% of ETF investors are bullish on crypto and plan to increase their allocations to cryptocurrency ETFs in the next 12 months. 

“Three-quarters of allocators expect to increase their investment in cryptocurrency-focused ETFs over the next 12 months, with demand highest in Asia (80%), and the US (76%), in contrast to Europe (59%),” the survey revealed.

This growing interest in crypto ETFs could drive further demand for assets like BNB, making the VanEck BNB ETF a potentially significant product in the market.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



Source link

Continue Reading

Market

XRP Recovery Stalls—Are Bears Still In Control?

Published

on


XRP price started a fresh decline from the $2.20 zone. The price is now consolidating and might face hurdles near the $2.120 level.

  • XRP price started a fresh decline after it failed to clear the $2.20 resistance zone.
  • The price is now trading below $2.150 and the 100-hourly Simple Moving Average.
  • There is a connecting bearish trend line forming with resistance at $2.120 on the hourly chart of the XRP/USD pair (data source from Kraken).
  • The pair might extend losses if it fails to clear the $2.20 resistance zone.

XRP Price Faces Rejection

XRP price failed to continue higher above the $2.20 resistance zone and reacted to the downside, like Bitcoin and Ethereum. The price declined below the $2.150 and $2.120 levels.

The bears were able to push the price below the 50% Fib retracement level of the recovery wave from the $2.023 swing low to the $2.199 high. There is also a connecting bearish trend line forming with resistance at $2.120 on the hourly chart of the XRP/USD pair.

The price is now trading below $2.150 and the 100-hourly Simple Moving Average. However, the bulls are now active near the $2.10 support level. They are protecting the 61.8% Fib retracement level of the recovery wave from the $2.023 swing low to the $2.199 high.

XRP Price

On the upside, the price might face resistance near the $2.120 level and the trend line zone. The first major resistance is near the $2.150 level. The next resistance is $2.20. A clear move above the $2.20 resistance might send the price toward the $2.240 resistance. Any more gains might send the price toward the $2.2650 resistance or even $2.2880 in the near term. The next major hurdle for the bulls might be $2.320.

Another Decline?

If XRP fails to clear the $2.150 resistance zone, it could start another decline. Initial support on the downside is near the $2.10 level. The next major support is near the $2.0650 level.

If there is a downside break and a close below the $2.0650 level, the price might continue to decline toward the $2.020 support. The next major support sits near the $2.00 zone.

Technical Indicators

Hourly MACD – The MACD for XRP/USD is now gaining pace in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level.

Major Support Levels – $2.10 and $2.050.

Major Resistance Levels – $2.120 and $2.20.



Source link

Continue Reading

Trending

Copyright © 2024 coin2049.io