Market analysts say that Bitcoin (BTC) is showing “renewed bullish momentum” after Tuesday’s 5% rise above $76,000, with bulls expecting further gains to $90,000 on improving online activity.
Bitcoin price reaches its highest level in 70 days
Data from TradingView shows that the BTC/USD pair rose by more than 5% on Tuesday, reaching an intraday high of $76,120, last seen on February 6.
The acute rally has seen Bitcoin’s price regain key support levels, including the $75,000 zone where the 100-day exponential and uncomplicated moving average converge.
“#Bitcoin rose above $76,000, breaking March highs and signaling renewed momentum” – CryptoBlockto analyst he said on Tuesday in post X.
The analyst pointed out that the next key resistance zone is $76,000 and that its clearing will confirm “the trend reversal and maintaining the upward momentum.”
From a technical perspective, Bitcoin is confirming an ascending triangle after breaking through the upper trend line at $73,000 on Monday.
A daily candle closing above the $75,000 moving averages would confirm a breakout, and the next resistance line would be the psychological level at $80,000.
Over and above this, bulls could push the BTC price towards the measured triangle target of $89,050, which is 18% above the current price.
The daily relative strength index rose to 63 from oversold conditions of 15 reached on February 6, suggesting increasing upward momentum.
“#Bitcoin #trades in the horizontal supply zone of an ascending triangle. 100MA also acts as a resistance barrier above current price action,” CryptOpus analyst he said in X’s last post, adding:
“A strong break above both the pattern and the 100MA would confirm a bullish rally in the market.”
As Cointelegraph reports, a close above $76,000 would end the bullish ascending triangle pattern, paving the way for a potential rise to $84,000.
Bitcoin trading activity reaches 17-month highs
BTC’s price strength is reflected in onchain activity, with the daily number of Bitcoin transactions increasing by 62% in 2026 to 765,130 million on April 5.
The last time this rate remained at this level was in November 2024, when the hype surrounding the 2024 US presidential election pushed Bitcoin’s price above $100,000 for the first time in history.
“Daily $BTC transaction volume is higher than when $BTC was $120,000” – Analyst CW8900 he said on Tuesday in post X, adding:
“The network is exhibiting bullish behavior.”
Total Bitcoin fee volume also increased, increasing 4% over the past week to $153,700, indicating “elevated demand on the network” – Glassnode he said in his latest Puls Rynku report he added:
“This increase represents an increase in online activity, potentially signaling a shift in users’ willingness to pay for transaction priority.”
Bitcoin’s increasing transaction volume and fees mean more users are interacting with the network. This suggests high network activity, which is often correlated with increased market interest and trust.
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