Market analysts say Bitcoin (BTC<\/a>) is showing \u201crenewed bullish momentum\u201d after its 5% rally above $76,000 on Tuesday, with bulls eyeing further gains to $90,000 amid improving network activity.<\/p>\n Data from TradingView<\/a> shows the BTC\/USD pair rose over 5% on Tuesday to an intraday high of $76,120<\/a>, levels last seen on Feb. 6.\u00a0<\/p>\n The surge saw Bitcoin’s price reclaim key support levels, including the $75,000 zone where the 100-day exponential and simple moving averages converge.<\/p>\n \u201c#Bitcoin surged above the $76,000 level, breaking above its March highs and signaling renewed bullish momentum,\u201d analyst CryptoBlockto said<\/a> in an X post on Tuesday.<\/p>\n The analyst pointed out that the next crucial resistance zone is $76,000 and that clearing it would confirm \u201ca trend reversal and sustained upside momentum.\u201d<\/p>\n From a technical perspective, Bitcoin is validating an ascending triangle after breaking above its upper trend line at $73,000 on Monday.\u00a0<\/p>\n A daily candlestick close above the moving averages<\/a> at $75,000 would confirm the breakout, with the next line of resistance being the psychological level at $80,000.<\/p>\n Above that, bulls could push the BTC price toward the triangle’s measured target of $89,050, 18% above the current price.<\/p>\n The daily relative strength index has increased to 63 from oversold conditions at 15 reached on Feb. 6, suggesting increasing bullish momentum.<\/p>\n \u201c#Bitcoin is #trading within the horizontal supply zone of an ascending triangle pattern. The 100MA is also acting as a resistance barrier above the current price action,\u201d analyst CryptOpus said<\/a> in a recent X post, adding:<\/p>\n \u201cA strong breakout above both the #pattern and the 100MA would confirm a #bullish rally in the market.\u201d<\/p><\/blockquote>\n As Cointelegraph reported<\/a>, a close above $76,000 would complete a bullish ascending triangle pattern, clearing the path for a potential rally to $84,000.<\/p>\n The strength in BTC price is reflected in onchain activity, with Bitcoin\u2019s daily transaction count rising by 62% in 2026 to 765,130 million on April 5.<\/p>\n This metric was last at these levels in November 2024, when the hype around the 2024 US Presidential Election pushed Bitcoin price above $100,000<\/a> for the first time in history.<\/p>\n \u201c$BTC daily transaction count is higher than when $BTC was $120K,\u201d analyst CW8900 said<\/a> in an X post on Tuesday, adding:<\/p>\nBitcoin price hits a 70-day high<\/h2>\n
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Bitcoin\u2019s transaction activity hits 17-month highs<\/h2>\n
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