Daily Trading Analysis: A Detailed Breakdown of Market Momentum BTC 2nd April 2025
Bitcoin’s price action on April 2, 2025, continued to captivate traders following a series of volatile sessions. Yesterday’s market was shaped by significant news and technical patterns, and today we’ll explore how those dynamics evolved. We’ll analyze the 30-minute chart for short-term insights, dive into the daily chart for broader trends, and conclude with a summary of key levels and potential moves for Bitcoin.
30-Minute Analysis
The 30-minute chart showed Bitcoin attempting to build on yesterday’s momentum. Pre-market, the price found support at the 50 EMA, setting the stage for a strong move at the New York session open. Bitcoin surged to a high of $86.1k, but this rally was short-lived as the price rejected this level, eventually selling off to close at $87.2k. The afternoon session saw continued selling pressure, with traders likely taking profits ahead of an anticipated event—Trump’s “liberation day” speech. This speech, which announced reciprocal tariffs on the USA’s largest trading partners, caused immediate volatility, pushing the price as high as $88.5k during the speech before a sharp sell-off ensued.
The price fell by 7.19% over four hours, finding support at the critical $82.3k level, which also aligned with the $82.8k support zone. This area acted as an accumulation zone, with the price stabilizing at $83.6k by the close. The volatility reflects the market’s sensitivity to macroeconomic news, and the $82.3k-$82.8k support zone remains a pivotal level for buyers to defend if they aim to push the price back toward recent highs.
Daily Analysis
On the daily timeframe, Bitcoin displayed a significant rejection wick, signaling strong selling pressure at higher levels. The large wick aligns with a confluence of technical indicators: the ascending trendline (now with three touchpoints, as noted previously) and the 0.618 Fibonacci retracement level. This rejection suggests that sellers are still active at these elevated prices, and the market may need a catalyst to break through this resistance.
Looking ahead, today’s session is expected to be a response to the aftermath of Trump’s speech and its macroeconomic implications. The $82.3k support level, which held firm during the sell-off, will be critical to watch. A break below this could signal further downside, potentially targeting the 200 EMA around $82.8k. Conversely, a bounce from this level, especially with strong volume, could set the stage for another attempt at $88.5k. The market remains in a consolidation phase, with the ascending trendline and Fibonacci level acting as key barriers to a sustained breakout.
Summary
Today’s analysis reveals a market grappling with volatility driven by macroeconomic news. The 30-minute chart highlighted a sharp rally to $88.5k during Trump’s speech, followed by a 7.19% sell-off, with the price stabilizing at $83.6k near the $82.3k-$82.8k support zone. On the daily chart, a large rejection wick at the 0.618 Fibonacci and ascending trendline underscores resistance, while support at $82.3k holds for now. Traders should monitor for a break above $88.5k for bullish momentum or a drop below $82.3k for bearish pressure. Stay tuned for tomorrow’s update as Bitcoin navigates these critical levels!
