Bitcoin has been consolidating between the 50-day exponential moving average (EMA) at ~$88,829 and the 200-day EMA at ~$85,562, struggling to reclaim the short-term trend. The Relative Strength Index (RSI) is also hovering near neutral levels (52.08), suggesting a lack of bullish momentum.
Should the wedge break down—typically confirmed by a daily close below the lower trendline—the bearish target becomes the height of the wedge subtracted from the breakdown point. That would put BTC’s downside target near $79,773, just below the psychological $80,000 support level.
The confluence of overhead resistance from moving averages, a weakening RSI, and receding volume during the price rise lends further weight to the bearish scenario. Traders should monitor for a decisive break of the lower wedge boundary in the coming sessions.
Trump Trade War and Its Impact on Risk Appetite
Markets have grown increasingly jittery after Trump imposed a 25% tariff on all automobiles not made in the United States, effective April 3.
The move triggered a sell-off in global auto stocks and prompted concerns over a broader trade war escalation. Trump has further threatened additional tariffs on the EU and Canada, which has only amplified investor fears.
