Last week, Bitcoin (BTC) began to show early signs of separation from the US stock market. Bitcoin was relatively flat in a week, but the S&P 500 fell 9%. The sale was triggered following President Donald Trump’s global tariff announcement on April 2. This escalated further on April 4th as China retaliated with new tariffs on US goods. Even gold was spare-sparkly, dropping by 1.9% for the week.
Mike Alfred, founder of Alpine Fox, stressed in an X post that the gold bull market is bullish for Bitcoin. During the previous cycle, Gold led Bitcoin for a while, but in the end Bitcoin caught up, growing more than 10 times more than gold. He added that this time there won’t be any difference.
Crypto Market Data Daily View. Source: Coin360
Bitcoin’s short-term outperformance is an encouraging sign, but traders need to be cautious until they become even more clear on the macroeconomic side. If the US stock market witnesses another round of sales, the cryptocurrency market could also be under pressure.
A few altcoins show strength in the charts, but waiting for the overall sentiment to be bullish before jumping could be a better strategy. If Bitcoin surpasses its immediate resistance, what is the top cryptocurrency that could follow?
Bitcoin price analysis
The Bitcoin Bulls failed to push the price above the resistance line, but did not give up much ground to the bear. This suggests that the bull is still under pressure.
BTC/USDT Daily Chart. Source: CointeLegraph/TradingView
The 20-day exponential moving average ($84,241) has been flattened, with the relative strength index (RSI) just below the midpoint, indicating the balance between supply and demand.
This advantage leans in favor of the Bulls during the break and closes above the line of resistance. The resistance is $89,000, but once the levels are taken out, the BTC/USDT pair could rise to $100,000.
$80,000 is a key support to be aware of the downside. If this level breaks, the pair could plummet to $76,606 and then $73,777.
BTC/USDT 4-hour chart. Source: CointeLegraph/TradingView
The pair is merged between $81,000 and $88,500. The moving average on the 4-hour chart is slightly tilted, with the RSI just below the midpoint indicating the continuation of the action bound to the short-term range.
If a buyer pushes prices above $85,000, the pair could ralend at $88,500. This level could attract sellers, but if the Bulls win, the pair could jump to $95,000.
If the price falls below the $81,000-$80,000 support zone, the Bears will return to the driver’s seat. The pair can then be dumped to $76,606.
PI Network Price Analysis
Pi Network (PI) has been on a strong downtrend since it came to the top of the $3 on February 26th. The April 5 relief rally shows the first signs of purchases at a lower level.
PI/USDT Daily Chart. Source: CointeLegraph/TradingView
The recovery is expected to face sales at 20 days at EMA (0.85). This remains an important short-term level to be aware of. If the PI/USDT pair doesn’t give up much ground from the 20-day EMA, it shows that the Bulls are holding their position. This opens the doors for meetings that exceed the 20-day EMA. The pair jumps to a 50% Fibonacci retracement level of $1.10 and may be adjacent to a 61.8% retracement level 1.26.
The $0.40 level is important support on the downside. A break and a drop below $0.40 could potentially sink the pair to $0.10.
PI/USDT 4-hour chart. Source: CointeLegraph/TradingView
The four-hour chart shows the bear defending a moving average of 50 simple, but the minor positive is that the Bulls are trying to keep the pair above the 20-EMA. If the price recovers 20-EMA, the Bulls try to kick a pair that exceeds $0.80. That way the pair could move to $1.20.
On the contrary, the rest and closure under the 20-EMA suggests that the bears are maintaining pressure. Negative momentum can be picked up at breaks below $0.54. The pair may then retest critical support for $0.40.
OKB Price Analysis
OKB (OKB) rose sharply on April 4th, closing above the moving average, indicating the Bulls are attempting a comeback.
OKB/USDT Daily Chart. Source: CointeLegraph/TradingView
The UP movement continued, with the Bulls pushing prices up $54 more than short-term resistance on April 6th. The OKB/USDT pair can reach the resistance line of the downward channel and may attract sellers. If prices drop sharply and fall below $54, the pair could vibrate within the channel for several more days.
On the other hand, if the buyer does not give up many positions from the resistance line, the chances of breaks above the channel are increased. The pair can go up to $64, then $68.
OKB/USDT 4-hour chart. Source: CointeLegraph/TradingView
This pair completes an inverted head and shoulder pattern during the break and closes above the neckline. The up-move can face sales on the resistance line, but on the way down, if the buyer flips the neckline to support, the chances of a break above the resistance line are increased. In that case, the pair can begin marching towards a $70 pattern goal.
Sellers should quickly pull prices below 20-EMA to hardly defend the neckline and prevent rallies. The pair falls to 50-SMA and then goes for $45.
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Gatetoken price analysis
Gatetoken (GT) finds support for several days with a 50-day SMA ($22.05). This is an important level to be aware of.
GT/USDT Daily Chart. Source: CointeLegraph/TradingView
A flat moving average and RSI just below the midpoint do not give bulls or bears any distinct advantages. A break and closing above $23.18 could push the price up to $24. This remains a critical overhead resistance for the bear to defend, as it could catapult the GT/USDT pair to $26.
This positive view will be void in the short term if it is maintained below the 50-day SMA. The pair can sink to $21.28 and then sink to $20.79.
GT/USDT 4-hour chart. Source: CointeLegraph/TradingView
This pair dismissed from the resistance line of the descending channel pattern and indicates sales at the meeting. A below-moving average break suggests that the pair may remain in the channel for a little longer.
The buyer gets the advantage in a break and closes above the line of resistance. Such a move suggests that the correction phase may have ended. The pair can collect for $23.18 and then $24.
Cosmos price analysis
Cosmos (Atom) is about to form the bottom, but is facing sales for $5.15. A minor positive in favour of the Bulls is that they don’t allow prices to fall below the moving average.
ATOM/USDT Daily Chart. Source: CointeLegraph/TradingView
If you want to recover the average price moving with force, it indicates that you will buy with dip. This will improve the prospects for breaks beyond the $5.15 resistance. If that happens, the Atom/USDT pair could reach $6.50 and surge to $7.17.
Conversely, rest and closure under moving averages suggest the possibility of range formation in the short term. The pair could swing between $5.15 and $4.15 for a while. Sellers return to commander on slides under $4.15.
Atom/USDT 4-hour chart. Source: CointeLegraph/TradingView
The Bulls and Bears are witnessing a tough fight at the 20-EMA on the 4-hour chart. If the price is below 20-EMA, the pair will fall into a 50-day SMA, then it will be $4.15. Buyers are expected to be hard at the $4.15 level.
Instead, if prices exceed the 20-day EMA, they show solid demand at a lower level. The Bulls then try to push the pair to $5.15. Closed above this resistance could trigger a new up-move.
This article does not include investment advice or recommendations. All investment and trading movements include risk and readers must do their own research when making decisions.
