Market analysts say Bitcoin (BTC) is displaying “renewed bullish momentum” after its 5% rally above $76,000 on Tuesday, with bulls eyeing additional positive factors to $90,000 amid enhancing community exercise.
Bitcoin worth hits a 70-day excessive
Information from TradingView reveals the BTC/USD pair rose over 5% on Tuesday to an intraday excessive of $76,120, ranges final seen on Feb. 6.
The surge noticed Bitcoin’s worth reclaim key help ranges, together with the $75,000 zone the place the 100-day exponential and easy transferring averages converge.
“#Bitcoin surged above the $76,000 stage, breaking above its March highs and signaling renewed bullish momentum,” analyst CryptoBlockto mentioned in an X submit on Tuesday.
The analyst identified that the following essential resistance zone is $76,000 and that clearing it could verify “a pattern reversal and sustained upside momentum.”
From a technical perspective, Bitcoin is validating an ascending triangle after breaking above its higher pattern line at $73,000 on Monday.
A day by day candlestick shut above the transferring averages at $75,000 would verify the breakout, with the following line of resistance being the psychological stage at $80,000.
Above that, bulls may push the BTC worth towards the triangle’s measured goal of $89,050, 18% above the present worth.
The day by day relative power index has elevated to 63 from oversold situations at 15 reached on Feb. 6, suggesting growing bullish momentum.
“#Bitcoin is #buying and selling throughout the horizontal provide zone of an ascending triangle sample. The 100MA can also be performing as a resistance barrier above the present worth motion,” analyst CryptOpus mentioned in a current X submit, including:
“A powerful breakout above each the #sample and the 100MA would verify a #bullish rally available in the market.”
As Cointelegraph reported, a detailed above $76,000 would full a bullish ascending triangle sample, clearing the trail for a possible rally to $84,000.
Bitcoin’s transaction exercise hits 17-month highs
The power in BTC worth is mirrored in onchain exercise, with Bitcoin’s day by day transaction rely rising by 62% in 2026 to 765,130 million on April 5.
This metric was final at these ranges in November 2024, when the hype across the 2024 US Presidential Election pushed Bitcoin worth above $100,000 for the primary time in historical past.
“$BTC day by day transaction rely is increased than when $BTC was $120K,” analyst CW8900 mentioned in an X submit on Tuesday, including:
“The community is displaying bull market conduct.”
Bitcoin’s complete payment quantity has additionally climbed, growing by 4% during the last week to $153,700, indicating “heightened onchain demand,” Glassnode mentioned in its newest Market Pulse report, including:
“This enhance implies an uptick in community exercise, doubtlessly signalling a shift in consumer willingness to pay for transaction precedence.”
Bitcoin’s growing transaction rely and charges imply that extra customers are interacting with the community. It suggests excessive community exercise, which is usually correlated with elevated curiosity and market confidence.
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