- US President Donald Trump has confirmed that he is in talks with China to ease trade tensions.
- Bitcoin has failed to break above $90,000, facing numerous resistances like the 200-day and 100-day MAs.
- A successful daily close above $90,000 would break through several resistance barriers for BTC.
The tension between the United States and China has heated up as market leading cryptocurrency Bitcoin found itself caught between macroeconomic uncertainty and strong technical signals, failing to push above $90,000 and way toward the $100,000 price tag.
On April 22, Bitcoin (BTC) traded at $88,549.95, gaining 1.1% in the past 24 hours and up 5% over the last 30 days, as price action begins to flirt with major resistance zones, CoinMarketCap data shows.
Trump’s Tariffs and Ongoing US-China Talks
US President Donald Trump recently shook global markets by announcing tariffs of up to 145% on Chinese imports, with a 10% blanket tariff on all other imports taking effect until at least July.
Trump doubled down on his economic nationalism, asserting that tariffs are not only an economic tool but a strategic weapon. Trump’s strategy is clear: use tariffs to reignite domestic manufacturing and reduce reliance on foreign imports.
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However, reports indicate US-China talks are ongoing to ease tensions. Trump stated that China has “reached out a number of times” in order to negotiate a deal and deescalate the back-and-forth tariff rate increases. The broader market hopes for a Bitcoin rally once the situation has been sorted.
Bitcoin’s Technical Picture: Testing Key Resistance
From a technical perspective, BTC has approached a critical resistance cluster between $88,000 and $91,000, as noted by analyst Ali Martinez.
These levels coincide with the 200-day and 100-day moving averages, as well as the midpoint of the recent consolidation range.
Another analyst Daan Crypto Trades highlighted a recent break above the Daily 200 EMA and a diagonal resistance, but emphasized the importance of holding $85,000 support while reclaiming $90,000 to reignite bullish momentum.
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Positively, the MACD indicator on the daily chart flipped bullish, signaling growing buying momentum. The Fibonacci retracement levels suggest a daily close above $86,491 (the 0% retracement level) could open the door to a retest of psychological resistance near $90K.
If broken, the next Fibonacci extension lies at 1.618 ($66,960.99), which interestingly remains below the current price, indicating Bitcoin is already navigating into price discovery territory if it manages to stay above these zones.
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Source: https://coinedition.com/bitcoin-bulls-battle-90k-resistance-zone-fueled-by-trump-tariff-woes/