<ul><li>Bitcoin (BTC) fell to a four-month low of $74,500 on April 7, triggered by a global market sell-off due to US President Donald Trump's tariff plans.</li><li>Bitcoin is currently testing a critical technical level, the 50-week exponential moving average (50-week EMA), and must reclaim it to avoid a deeper correction.</li><li>If Bitcoin fails to close back above the 50-week EMA, it may potentially decline towards the $69,000-$70,000 range.</li><li>Historical patterns suggest that if Bitcoin breaks below the 50-week EMA, it may target around $50,000, aligning with the 200-week EMA's current positioning.</li></ul>

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