Bitcoin continues to lead a strong cryptocurrency market rally, breaking above $104,000 amid renewed trade optimism driven by geopolitical developments involving the U.S., U.K., and China. The momentum stems from a newly signed trade deal between the United States and the United Kingdom, alongside comments from U.S. officials indicating potential tariff relief in upcoming discussions with China. Major altcoins including Ethereum, XRP, and Dogecoin are also riding the wave, supported by bullish technical indicators and a broader shift in investor sentiment. U.S. and U.K. traders, particularly those active during early U.S. (8:00–11:00 a.m. EST) and London trading hours (7:00–10:00 a.m. GMT), are closely monitoring these developments for short-term trading opportunities.
KEY HIGHLIGHTS
- Bitcoin Soars Past $104K Amid Optimism Over Trade Talks
- Ethereum Holds $2,300 After 20% Breakout Rally This Week
- XRP Targets $2.50 As Bulls Push Above Key Resistance
- Dogecoin Climbs Back Above $0.20 Confirming Bullish Reversal Pattern
BITCOIN (BTC/USD)
Bitcoin Price Surges Toward $104K on U.S.-UK Deal and China Tariff Optimism
Bitcoin’s strong rally continued into Friday’s U.S. and U.K. market sessions, with price action decisively crossing the $100,000 threshold and pushing toward $104,000. This breakout aligns with a general surge across U.S. equity indices and risk-on sentiment in London markets, following President Trump’s announcement of a finalized trade deal with the U.K. and his remarks about easing tariffs on Chinese goods. These developments have significantly boosted institutional and retail interest across North America and Europe.
Technical Overview:
Moving Averages – Exponential:
- MA 10: 97,854.75 | Bullish
- MA 20: 94,935.21 | Bullish
- MA 50: 91,036.59 | Bullish
Moving Averages – Simple:
- MA 10: 97,270.72 | Bullish
- MA 20: 94,961.67 | Bullish
- MA 50: 88,157.01 | Bullish
RSI: 75.41 | Buy Zone | Bullish
Stochastic Oscillator: 88.19 | Buy Zone | Neutral
Key Levels:
- Resistance: R1 – 96,352.96 | R2 – 101,420.45
- Support: S1 – 79,948.01 | S2 – 74,880.52
Overall Sentiment: Bullish
Market Direction: Buy
Trade Suggestion (USA/UK Traders):
- Entry (Limit Buy): 99,247
- Take Profit: 106,541
- Stop Loss: 95,611
ETHEREUM (ETH/USD)
Ethereum Stabilizes Near $2,300 After 20% Weekly Rally
Ethereum rallied sharply past $1,861—its consolidation cap—and currently trades near $2,300 as bullish sentiment from global markets spills into crypto assets. The rally, driven by breakout trading volumes during the U.S. open and confirmed during the London session, reflects renewed confidence among retail and institutional investors in both regions. If Ethereum maintains momentum, the next target is the 200-day EMA at $2,427.
Technical Overview:
Moving Averages – Exponential:
- MA 10: 1,964.96 | Bullish
- MA 20: 1,871.14 | Bullish
- MA 50: 1,884.57 | Bullish
Moving Averages – Simple:
- MA 10: 1,912.60 | Bullish
- MA 20: 1,830.75 | Bullish
- MA 50: 1,788.06 | Bullish
RSI: 81.53 | Buy Zone | Bullish
Stochastic Oscillator: 78.77 | Buy Zone | Neutral
Key Levels:
- Resistance: R1 – 1,928.82 | R2 – 2,063.15
- Support: S1 – 1,493.96 | S2 – 1,359.63
Overall Sentiment: Bullish
Market Direction: Buy
Trade Suggestion:
- Entry: 2,182.2
- Take Profit: 2,605.0
- Stop Loss: 1,994.5
RIPPLE (XRP/USD)
XRP Bulls Target $2.50 as Momentum Builds
Ripple surged by nearly 10%, breaking past its 50-day EMA at $2.20. The price now hovers around $2.39 and is primed to retest its March highs of $2.50, particularly if investor interest continues during U.S. morning hours and U.K. midday sessions. A successful close above $2.50 could open the door to a run toward $3.00.
Technical Overview:
Moving Averages – Exponential:
- MA 10: 2.2337 | Bullish
- MA 20: 2.2027 | Bullish
- MA 50: 2.2084 | Bullish
Moving Averages – Simple:
- MA 10: 2.2103 | Bullish
- MA 20: 2.2032 | Bullish
- MA 50: 2.1671 | Bullish
RSI: 65.13 | Buy Zone | Bullish
Stochastic Oscillator: 65.21 | Buy Zone | Neutral
Key Levels:
- Resistance: R1 – 2.3417 | R2 – 2.5181
- Support: S1 – 1.7707 | S2 – 1.5943
Overall Sentiment: Bullish
Market Direction: Buy
Trade Suggestion:
- Entry: 2.32
- Take Profit: 2.50
- Stop Loss: 2.24
DOGECOIN (DOGE/USD)
Dogecoin Reclaims $0.20, Breakout Pattern Confirmed
Dogecoin has bounced back above $0.20, currently trading at $0.21, following confirmation of an inverse head and shoulders pattern. The breakout coincides with increased retail activity in the U.S. during the early New York trading session and similar enthusiasm across the U.K. market. Holding above its 100-day EMA reinforces a strong bullish outlook.
Technical Overview:
Moving Averages – Exponential:
- MA 10: 0.1832 | Bullish
- MA 20: 0.1779 | Bullish
- MA 50: 0.1799 | Bullish
Moving Averages – Simple:
- MA 10: 0.1800 | Bullish
- MA 20: 0.1775 | Bullish
- MA 50: 0.1704 | Bullish
RSI: 70.98 | Buy Zone | Bullish
Stochastic Oscillator: 69.88 | Buy Zone | Neutral
Key Levels:
- Resistance: R1 – 0.1892 | R2 – 0.2041
- Support: S1 – 0.1408 | S2 – 0.1259
Overall Sentiment: Bullish
Market Direction: Buy
Trade Suggestion:
- Entry: 0.186
- Take Profit: 0.234
- Stop Loss: 0.163
Elsewhere in the Crypto Market
- Bitcoin down (2.4%) at 103,015
- Ethereum up (5.77%) at 2,335.80
- Litecoin up (3.92%) at 98.74
- Solana up (5.29%) at 171.53
- Dogecoin up (4.39%) at 0.206
Key Economic Events & Data Releases (Local Time Zones)
United States:
- Fed Waller Speech: 21:00 EST
United Kingdom:
- Canada Unemployment Rate (Apr): 18:00 GMT
- Forecast: 6.8%
- Previous: 6.7%
Frequently Asked Questions
1. Why is Bitcoin rallying despite broader economic concerns?
Bitcoin’s rally is fueled by renewed optimism in trade relations between the U.S., U.K., and China. The easing of trade tensions and increasing investor risk appetite are driving demand for risk-on assets like cryptocurrencies.
2. How does the U.S.-UK trade deal affect crypto markets?
While the deal has modest direct economic impact, it improves overall investor sentiment. This has led to stronger inflows into digital assets, particularly during U.S. and U.K. trading hours.
3. Should U.K. traders consider entering Ethereum now?
Yes, Ethereum’s breakout above the $1,861 consolidation zone and stabilization near $2,300 presents a strong bullish case, especially with London market sentiment also supporting broader crypto rallies.
4. Is Dogecoin’s rally sustainable or short-term hype?
Technical patterns like the inverse head and shoulders support a longer-term bullish move. As long as DOGE holds above the $0.20 mark and trading volume stays strong, the rally has room to continue.
5. What risk factors should U.S. traders watch this week?
Key risks include any sudden changes in trade negotiations with China and commentary from Fed officials, especially from Fed Waller’s speech tonight, which could impact the USD and crypto prices.