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Analyst: Bitcoin is expected to rebound to the range of $90,000 to $92,000.
According to ChainCatcher news and a report by CoinDesk, analyst Omkar Godbole's Technical Analysis shows that Bitcoin price has broken through 87,000 USD, demonstrating strong rise momentum, with a target range potentially between 90,000 and 92,000 USD. Previously, Bitcoin had a bullish breakout after consolidating between $83,000 and $86,000 for a week. The current move suggests that Bitcoin's recovery momentum from the April 7 low below $75,000 continues. If the price of bitcoin falls back below $85,000, this optimistic outlook may be negated. Analysis indicates that Bitcoin has surpassed the 30-day Exponential Moving Average (EMA), showing bullish momentum, while the 200-day Simple Moving Average (SMA) is at $88,245.