Bitcoin is on the rise! What is the next target level? The analyst explained and warned! "A drop below this level will invalidate the rise!"

The leading cryptocurrency Bitcoin started the new week with a rise. The price of BTC crossed the $87,000 level for the first time in over two weeks due to increasing global liquidity and renewed institutional appetite.

At this point, the BTC price has broken out of the one-week consolidation range of $83,000-$86,000 and has risen above $87,000.

As it is wondered whether this rise in Bitcoin is a trap or a signal of a permanent recovery, market analyst Omkar Godbole stated that Bitcoin has emerged from its consolidation range and shifted its focus to 90 thousand dollars and 92 thousand dollars.

According to the analyst, Bitcoin has exited the recent consolidation range by focusing on the range of 90,000 to 92,000 dollars, which previously served as a strong support.

BTC had maintained this range until the end of February before dropping to levels around 76 thousand dollars. However, at the end of February, it dropped below these levels, displaying sharp and fast movements.

According to the analyst, Bitcoin is currently above the 30-day exponential moving average of price peaks at (EMA) and has signaled a shift towards a rise in momentum.

The analyst, stating that the main focus point in BTC is currently between 90-92 thousand dollars, emphasized that it should not be forgotten that the 200-day simple moving average is currently at 88,245 dollars.

The analyst stated that although Bitcoin has given an upward change signal, if the price falls back to $85,000 by the end of the day, this upward outlook will be invalidated and the rise could reverse.