Will the Bulls Take Charge? Bitcoin (BTC) Eyes $90K After Rebound From $70K

Following a brief consolidation, bullish momentum is reemerging in the crypto market, with Bitcoin (BTC) now trading above $81,000—currently at $81,243. Despite a minor 0.45% drop in the past 24 hours, BTC appears to be regaining its footing as it seeks support for another upward push. The key question now: Can Bitcoin reclaim the $90,000 level?

Bitcoin Price Overview

Analyzing BTC’s daily chart reveals a significant correction that began in early 2025. From a February peak of $108,000, Bitcoin has shed about 30%, dipping to $76,000 over the past two weeks.

BTC is now testing the 0.382 Fibonacci retracement level at $87,052—a major resistance point. A successful breakout here could open the door for a move toward the 0.5 Fibonacci level at $90,442.

Currently, Bitcoin remains below all key exponential moving averages (EMAs), indicating a bearish undertone. However, the price is closing in on the 50-day EMA at $85,331, a critical resistance level that could influence future price action.

Directional Movement Index (DMI) values—18.0020 (DI+), 17.7144 (DI-), and 14.3023 (ADX)—suggest a near-balance between bullish and bearish forces. A crossover here may hint at an incoming trend reversal.

Key Support and Resistance Levels

Immediate Support: $76,000

Psychological Support: $80,000

Resistance Levels:

$82,858 (0.236 Fibonacci)

$85,331 (50-day EMA)

$87,052 (0.382 Fibonacci)

This range marks a critical zone for a potential bullish reversal.

Target Projections

If Bitcoin can break above the descending triangle pattern and surpass the 0.382 Fibonacci level, the next target would be the 0.5 Fibonacci level at $90,442. However, if the momentum weakens, BTC could retest support near $76,000. A breakdown below this level may trigger a deeper decline toward the 0 Fibonacci support at $72,000.

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