Bitcoin (BTC) Eyes of 90 thousand dollars after the bounce of 76 thousand dollars: Will the bulls erupt?
The bullish momentum now appears in the encryption market after a summary stop where Bitcoin (BTC) acquires strength and crosses the threshold of $ 81,000. Currently traded at $ 81,243. After a period of monotheism, Bitcoin now recorded a slight decline of 0.45 % in the past 24 hours.
The BTC price movement demands the transformation of feelings as Bitcoin seeks to restore previous support levels. Will Bitcoin succeed in recovering the $ 90,000 sign?
Bitcoin price analysis
From Action BTC Price on the daily chart, we see that the sharp correction of Bitcoin started in early 2025. After reaching about $ 108,000 in February, the upper cryptocurrency currency decreased sharply about 76,000 dollars in the past few weeks, which means approximately 30 % declining.
During this declining direction, Bitcoin created a descending triangle. However, this setting is usually called a continuation pattern during the declines. The price has been traded within the boundaries of the channel.
The last procedures show the price that the price presses the upper limits of the pattern, which gives strong indicators that the market is ready for imminent bullish penetration.
Currently, Bitcoin is approaching 0.382 Fibonacci at $ 87,052, which works as a large obstacle. If this level is wiped, we can definitely start thinking about a 0.5 move towards the 90,42 dollar Fibonacci level.
Currently, the Bitcoin price is traded without all Emas, indicating that the trend is still a decline. The price is approaching the EMA for 50 days at 85331 dollars, which will be an important level of resistance to judge future price movements.
DMI reads 18.0020, 17.7144 and 14.3023. Readings indicate that the upcoming and underlined forces are balanced at the present time. The crossing may indicate the change of direction.
Bitcoin’s immediate support level is about $ 76,000, and the next support is the psychological level of $ 80,000. Resistance levels are found at $ 82,858 (0.236 FIB), $ 87,052 (0.382 FIB), and EMA for 50 days at $ 85331. This creates a critical area for the bullish reflection of Bitcoin.
Price goals
A successful break over the descending triangle and Fibonacci 0.382 at $ 87,052 can rise Bitcoin to the spread of 0.5 Vibonacci at $ 90,442.
On the negative side, failure to maintain momentum may lead to a re -test of the triangle support about $ 76,000. The lower lounge of this level can intensify the pressure pressure, which may push the prices towards the next main support at the Fibonacci level near 72,000 dollars.
Bitcoin’s investment funds fail in the heart of Netflow daily
On April 10, the United States in the United States in Bitcoin Spot recorded a daily flow of $ 149.66 billion. GrayScale Mini Bitcoin Trust records $ 9.87 billion. Fidelity raised an external flow of $ 74.63 million, followed by a gray Bitcoin TRUST 44.63 million dollars in the external flow.
ARK and 21 shares, recorded from $ 12.69 million and 10.82 million dollars, respectively. Moreover, Franklin and Envesco recorded less than $ 10 million in external flows.
The bulls gradually gain strength in the future of bitcoin
During the past twelve hours, Long situations It rose to 50.8 % from 49.45 %. This is a long to short ratio to 1.035.
However, the sizes fail to shine, which reflects the interest of declining traders. The size of its length decreased 12 hours and short to 23.34 billion dollars.
