Analyst: Bitcoin may rise to the range of $90,000-92,000

Mars Finance News, on April 21, CoinDesk analyst Omkar Godbole wrote that BTC's recent range-bound oscillation turned bullish on Monday morning, with focus shifting to the 90,000-92,000 USD range, which was previously a strong support area. BTC broke through 87,000 USD today, decisively breaking out of the consolidation between 83,000-86,000 USD over the past week. Bulls have re-demonstrated their willingness to lead price trends, indicating that the recovery from the April 7 low point below 75,000 USD has been restarted. This also means that prices may continue to rise to the 90,000-92,000 USD range, which served as a bottom support from December last year to early February, preventing price declines. This support area was ultimately broken at the end of February, triggering a rapid drop below 75,000 USD. Previously, the bearish trend line shown on the daily chart from the historical high point has been invalidated. BTC has also broken through the price high of the 30-day Exponential Moving Average (EMA), indicating a shift in momentum to bullish. Therefore, the focus is on the 90,000-92,000 USD range, which was a support area earlier this year. Investors tracking moving averages should note that the 200-day Simple Moving Average (SMA) is currently at 87,245 USD. If the price falls back to 85,000 USD before the end of the day (UTC), the bullish outlook will face the risk of invalidation.