Bitcoin Price Forecast: Bulls Head Towards 90,000 USD

Since April 13, the price of Bitcoin has been repeatedly rejected around the 200-day Exponential Moving Average (EMA 200) (, which is currently around 85,000 USD. However, last Monday, Bitcoin officially surpassed this important resistance level, recording an impressive growth of 2.74%. As of the time this article is being updated on Tuesday, BTC is still trading above the 88,300 USD level. If the upward momentum continues to be sustained, Bitcoin is entirely capable of extending its recovery to the important psychological level of 90,000 USD. A solid breakout above this threshold could create momentum for the price to continue advancing and retest the high of 95,000 USD established on March 2. Technical signals reinforce the uptrend The Relative Strength Index )RSI( on the daily chart is currently at 59 and is trending upwards, indicating that the upward momentum is being strengthened. The MACD )Moving Averages Convergence – Divergence( has also given a bullish crossover signal last week – a potential buy signal that further reinforces Bitcoin’s recent recovery trend. Adjustment scenario: Support at the 85,000 USD area In the event of a correction or decline, Bitcoin may find important support near the 85,000 USD mark – which was previously a strong resistance level. If this support level is maintained, it could serve as a springboard for the price to continue rising again. Summary Current technical signals are favoring the bulls, with a short-term target of 90,000 USD and a further target of 95,000 USD. However, investors should closely monitor support levels and reversal signals to develop a reasonable risk management strategy in the context of a still volatile market.