Trump's 90-day tariff timeout just gave Bitcoin the kick it needed to bounce off five-month lows.

BTC surged 9% to touch $83,000 after the announcement, while alts pumped double-digits like it was 2021 all over again.

But beneath the green candles and hopium-filled tweets, Bitcoin's momentum indicators are flashing more warning signs than a sketchy DeFi protocol saying “time to take some money off the table”.

The Tariff Relief Rally

Trump's move to slash tariffs to 10% for most countries while cranking China's up to 125% sent markets soaring across the board.

Crypto responded exactly like you'd expect when uncertainty briefly lifts – with a face-melting rally that had bears scrambling to close shorts.

The S&P 500 and Nasdaq had their biggest gains in years, reminding everyone that crypto still dances to Wall Street's tune more than maxis want to admit.

But this pump might have more in common with a relief rally than the start of a serious bull run.

The $84K Resistance Wall

Bitcoin is currently trading at $83,460, staring up at $84,000 like it's Mount Everest without oxygen tanks.

That level used to be reliable support in previous cycles, but now it's threatening to flip to resistance – the kind of technical switcheroo that keeps traders up at night.

If BTC can't punch through $84K convincingly, we're probably stuck ranging in the low $80Ks like a crab market on Adderall.

And even if that level breaks, there's still the mammoth $96K resistance waiting to squash overeager bulls.

Bull Score On Life Support

Bitcoin's Bull Score Index just dropped to 10 – the lowest since November 2022 and about as bullish as hearing that Gensler is back at the SEC.

Out of ten bullish signals this index tracks, only one is still active: BTC trading above its 365-day moving average at $76,100.

That's like having a basketball team with only a handful of players showing up for the game – technically you're still in it, but good luck winning.

Unless this index climbs above 40, Bitcoin's about as likely to sustain a rally as that random meme coin you found is to hit a billion-dollar market cap.

The Make-Or-Break Levels

Here's what matters for traders trying to navigate this mess: $84K above and $76,100 below.

Break $84K with volume, and the path to $96K opens up faster than a Bitcoin maxi's wallet during a dip.

Lose $76,100 support, and we're officially in bear market territory with $70K as the next stop on the pain train.

Meanwhile, altcoins are seeing trading volumes drop below annual averages – historically a decent time to accumulate before the next leg up.

The Macro Picture

Trump's tariff pause is nice, but it's basically just kicking the can down the road for 90 days.

Inflation is still doing its thing, and the dollar is looking weaker than it has in years, if not decades. 

Abra Global's CEO Bill Barhydt is out here predicting $130K-$140K Bitcoin by late June, but that's about as reliable as any other prediction we’re seen – it might be right, or it might be wrong, and only time will tell. 

CryptoQuant analysts are taking the other side, basically saying "cool your jets" until we see actual momentum returning.

Market Decision Time

Bitcoin just experienced its largest drawdown of this cycle – a painful 27% drop from January's $109K peak that has anyone still holding feeling the burn.

This tariff-induced bounce is welcome relief, but the technical picture still looks shaky.

Until Bitcoin reclaims $84K and holds it, this is just another relief rally in a market that's been more indecisive than your girlfriend choosing where to go for dinner. 

For now, keep your eyes on those key levels and remember – in crypto, sometimes the hardest thing to do is nothing at all.