Bitcoin (BTC) hit an eleven-day high on April 13 as the crypto market relief rally closely tracked US financial policy changes.
Bitcoin traders say brace for more volatility
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD reaching $86,000 for the first time since April 2.
The pair had reacted well to news that US President Donald Trump had decided to exclude certain key products from his ongoing trade tariffs against China.
Traditional markets are closed on weekends —creating lower-liquidity trading in crypto markets and raising the chance for price volatility— with Bitcoin subsequently dropping under $84,000.
With hours to go until the weekly close, BTC/USD was thus up 7% for the week, having started with a trip to new five-month lows.
Commenting, traders were cautious over BTC price strength.
Call me crazy but I don’t think I trust this breakout on $BTC.
Low volume, overbought stoch, and on a weekend.
If we can remain over 84k through Monday I’ll look for higher but for now this seems sketchy. pic.twitter.com/qKVdYAOYPJ
— Roman (@Roman_Trading) April 12, 2025
Daan Crypto Trades noted the ongoing interplay with the 200-day exponential moving average (EMA) at $85,000.
“This is however still a weekend move so far and we know next week will be volatile again with news regarding tariffs and the first big tech earnings coming up,” part of a post on X read.
Well-known trader Peter described the rebound from the lows as looking “more corrective than it does impulsive.”
Popular trader and analyst Rekt Capital meanwhile saw the true hurdle to a Bitcoin bull market rebound coming in the form of a stubborn long-term daily downtrend.
“Bitcoin has Daily Closed above the Downtrend. Thus, breakout confirmation is underway,” one of his latest X updates explained alongside an illustrative chart.
“However BTC has previously Daily Closed above the Downtrend but failed its retest (a few of the red circles). Retest needs to be successful and it is in progress.”
As Cointelegraph reported, the daily downtrend, in place since late 2024, is earmarked as a key hurdle for bulls to overcome.
Related: Bollinger Bands creator says Bitcoin forming ‘classic’ floor near $80K
RSI bullish divergence still in play
Another post flagged promising signals on Bitcoin’s relative strength index (RSI) indicator.
A classic leading indicator, RSI continued to print another bullish divergence with price on daily timeframes.
“Bitcoin is developing yet another Higher Low on the RSI while forming Lower Lows on the price,” Rekt Capital summarized.
“Overall, throughout the cycle Bitcoin has formed Bullish Divergences like this on a few occasions already. Each Bull Div preceded reversals to the upside.”
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
