- Bitcoin approaches $ 80,000, while Yuan weakness and trade conversations improve the mood despite negative technical patterns.
- Wal activities of 1,715 Bitcoin transfers also indicate a weak but probably stable upward trend.
Bitcoin is traded over $ 78000 after testing the 5-month low of $ 74400. Due to numerous worries of the global economy – the conflict between the United States and China is currently prominently prominent, there is little risk to risk on the market.
The weaker Yuan and the likelihood of a trade agreement supported the risk systems to a certain extent. From a technical point of view, however, short -term problems seem to be anticipated.
Weak Yuan and China’s position can boost crypto inflows
The PBOC (People’s Bank of China), the Chinese central bank, lowered the Yuan reference interest rate on Monday, which means that the Chinese currency has now broken the important mark of $ 7.20 since Trump has been president.
The People’s Bank of China has set the daily means of over 7.2, which means consideration of the controlled devaluation. Measures such as this could help to alleviate the effects of the tariffs proposed by Trump by remaining competitive exports.
In the event that Beijing raises the tariffs as a measure against the trading policy retribution measures, Trump has not failed to emphasize that he can increase the tariffs by 50 percent. China has also promised an equivalent and appropriate answer to these threats.
Despite the ongoing political rivalry, the devaluation of the Yuan has a positive effect and increases the willingness to take risks. Consultants refer to historical trends that show that a Yuan devaluation leads to a capital inflow in Bitcoin.
As CNF reported, Ben Zhou, the CEO of Bybit, saw the same events in August 2015, when the Yuan was upgraded by 1.9% to result in Bitcoin to 20% within a week and rose by 60% within four months. But as before, Beijing then took a rather unfriendly attitude towards cryptocurrencies, and this recent devaluation could be a further driving force for the supply of more capital in Bitcoin.
Technical signals have inconsistent messages for Bitcoin
As far as Bitcoin’s technical analysis is concerned, both bullish and bearish formations can be observed on the Kurscharts. On the weekly chart, BTC stays at $ 76,800 above the sliding 50-week average. This level is viewed as a horizon between the bull and bear side and is therefore crucial.
A death cross has formed in which the simple sliding 50-day average (SMA) falls below the 200-day SMA. Bitcoin is currently located below a descending trend line that has been running since the beginning of the year. However, so that the bears can continue to prevail, the price must leave the $ 78,000 and $ 74,400.
If the support lasts between $ 78,000 and $ 80,000, buyers have to rise over $ 86,700/200-day SMA. Overcoming this level could open the door towards $ 90,000. As from Analyst Egrag Crypto observeda “cup and handle” pattern has developed on the long -term chart.
According to him, an outbreak of over $ 69,000 could lead to a multi -stage rally, the goal of which could be $ 113,000, $ 195,000 or even $ 260,000. A Fibonacci extension of this range also implies an outsider chance of $ 175,000, which, however, depends on the strength of the market.
Wall activity and diplomacy give hope for an upswing
The optimism of investors has improved due to speculation that President Trump could soften his attitude towards world trade. US Secretary of State Scott Bessant heads the negotiations in Japan, which strengthens hope for progress. The Nikkei recovered by 6 % after he had fallen 8 % the day before. The US terminal and European markets also increased and thus reflected a broader risk to risk.
The Bitcoin rose synchronously with the global markets from $ 74,500 to $ 81,200. Santiment data showed 1,715 WAL transactions of over $ 1 million each, a sign that large investors could position themselves for a further increase. Technical analysis also supports this development. The TD sequential indicator showed a “9” for the last downward candle, which usually indicates a floor and a possible reversal.
#Bitcoin $BTC is flashing a weekly TD Sequential buy signal. Holding above $74,500 and breaking past $82,000 could confirm a move to $88,000! pic.twitter.com/9av6QcwtMH
— Ali (@ali_charts) April 8, 2025
The price crashed into the support at $ 74,457 and is now approaching a further resistance at $ 82.003. If Bitcoin can break through its descending trend line – a barrier that limited upward movements in 2025 – he could target $ 88,034, $ 90,000 and $ 92,228. If he fails, a new sales pressure could test the support under $ 74,500 with a possible movement towards $ 70,000.
Investors now observe both technical resistance and geopolitical signals, whereby capital flows, political developments and chart patterns all help to determine the next direction of Bitcoin.
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