The optimism that swept through the crypto space following President Donald Trump‘s election win has quickly collided with market reality. Once hailed as a champion of digital assets—vowing to make the U.S. the “crypto capital of the planet”—Trump’s recent rollout of broad global tariffs has shaken investor confidence, sending shockwaves through both traditional and crypto markets.
Bitcoin, which surged to a record high of nearly $110,000 during the inauguration hype in January, has since retraced sharply, dropping over 10% to fall below the $78,000 mark.
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Often viewed as both a hedge against traditional finance and a speculative asset sensitive to liquidity flows, BTC now sits at a critical juncture. The charts are beginning to reflect the tension, with key technical levels taking shape that could dictate the next major move. In this piece, we’ll break down the most important areas to watch on the Bitcoin chart and what they might tell us in the days and weeks ahead.
Monthly Chart
Zooming out is always important, as it provides a clearer picture of the overall direction of a market by reducing short-term noise. From the lows of November 2022 to the highs reached in January, Bitcoin surged by an impressive 611%.
Source: TradingView (User & Screenshot – NoticeTrades)
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What’s important on the monthly chart is the current structure that has been forming since the 2022 bottom. The market has consistently maintained a higher low trend relative to previous swing lows.
Bitcoin is currently trading at $80,200 as of Tuesday, which is a crucial level to hold. This level represents the 50% retracement of $79,500 from the previous swing low to the all-time high. It serves as a natural support level where, as an investor or trader, you’d want to see demand.
Weekly Chart
Zooming in a little closer to the weekly timeframe, we can see more detail regarding the structure that formed the monthly swings.
As of the current price action, BTC is holding well above the 50 EMA, which aligns with the 50% retracement level of the overall trading range.
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