Main Points：
- Serious Tariff Concerns: Bitcoin is continuing its downward trend with little rebound as uncertainty over Trump’s tariff policy intensifies.
- Global Market Impact: The U.S. trade policies and falling USD/JPY values (near 155 yen) indicate mounting recession concerns, which are affecting risk assets like Bitcoin.
- 1-Hour Chart Insights: Recent technical analysis shows persistent high volatility with a wide range between support (around 11,200,000 yen) (around ＄76,883) and resistance (around 15,000,000 yen) (around ＄102,968), while the current price has slid to approximately 12,070,700 yen (＄82,860).
- Critical Support Levels: If Bitcoin fails to hold its short-term support near 12,060,739 yen (＄82,792), further declines may accelerate.
- Outlook Remains Uncertain: With key economic data and policy events on the horizon, including upcoming U.S. economic indicators, market direction remains unclear.
1. Are Trump’s Tariffs Signaling a Recession?
Bitcoin is facing persistent selling pressure and little to no rebound, with its price declining further amid ongoing concerns over Trump’s retaliatory tariffs. With the USD/JPY exchange rate nearing 155 yen and tariff fears weighing heavily on global markets, it appears that this second round of tariffs is serious—raising concerns that Japan might be entering a recession.
2. 1-Hour Chart Analysis: Bitcoin’s Recent Behavior
At 7:22 AM on April 4, the 1-hour BTC/JPY chart shows that after an initial decline from the opening price of 12,684,746 yen (＄87,075), Bitcoin attempted a brief recovery but then resumed its downtrend. The chart indicates a wide trading range between a low near 11,284,730 yen (＄77,465) and a high of 13,378,048 yen (＄91,834), underscoring the market’s high volatility.
3. Price Overview
- Opening Price: 12,684,746 yen (＄87,075)
- High Price: 13,378,048 yen (＄91,834)
- Low Price: 11,284,730 yen (＄77,465)
- Current Price: 12,070,700 yen (＄82,860)
Bitcoin initially fell, rebounded toward a higher level, but then fell again. Recently, it touched a low of about 12,060,739 yen (＄82,792) and then slightly rebounded to 12,070,700 yen (＄82,860).
4. Technical Analysis
The chart highlights key levels:
- Support: Approximately 11,200,000 yen (＄76,883)
- Resistance: Approximately 15,000,000 yen (＄102,968)
Although Bitcoin’s price has broken well below the 15,000,000 yen (＄102,968) resistance, it remains below that threshold. Without a decisive breakout above this resistance, a full reversal to an uptrend seems unlikely. The immediate support around 12,060,739 yen (＄82,792) is critical; if this level fails, further declines could be triggered.
5. Outlook: Uncertainty Ahead
Short-term analysis on the 1-hour chart indicates that market direction remains uncertain. The near-term support at around 12,060,739 yen (＄82,792) will be crucial: if Bitcoin falls below this level, a deeper decline is likely. For a longer-term trend view, investors should also monitor daily and weekly charts. With macroeconomic concerns and the implications of Trump’s tariff policies still looming, the overall market sentiment continues to be cautious.
6. Conclusion
Bitcoin continues its downtrend amid serious concerns over Trump’s tariff announcements, with the current price at around 12,070,700 yen (＄82,860) reflecting the ongoing market uncertainty. The failure to break above resistance and the critical role of the short-term support at approximately 12,060,739 yen (＄82,792) suggest that further declines may occur if these levels are breached. Investors should closely monitor upcoming U.S. economic indicators and policy announcements, as these events will be key in determining whether Bitcoin can stabilize or if the bearish trend will persist.
