Bitcoin’s Bullish Range Breakout Signals Rally Potential to $90K-$92K
This is a daily technical analysis by CoinDesk analyst and Chartered Market Technician Omkar Godbole.
Bitcoin’s (BTC) recent range play resolved bullishly early Monday, shifting focus to the $90,000-$92,000 range, which was previously a strong support zone.
The leading cryptocurrency by market value rose past $87,000, convincingly breaking out of a week-long consolidation between $83,000 and $86,000. The renewed willingness among the bulls to lead the price action indicates the resumption of the recovery from the April 7 lows under $75,000.
It also means potential for a continued move higher to the $90,000-$92,000 range, which acted as the floor, arresting price drops from December to early February. The support zone was eventually…
