$BTC Bitcoin is trading slightly above $88,000 at the time of this writing on Friday, as buyers target a breakout above the downward trend line on the daily chart.

The Relative Strength Index (RSI) on the same chart has risen to 44, indicating that bearish momentum is beginning to wane. Further increases above the midpoint of 50 will support a return of bullish momentum and increase the chances of Bitcoin rising towards $100,000.

Traders will be watching for buy signals from the Moving Average Convergence Divergence (MACD) indicator on the daily chart, which will occur if the blue line crosses above the red signal line. For now, the MACD remains in bearish territory, indicating that Bitcoin is not fully out of the woods yet.

Furthermore, Bitcoin is trading below the declining 50-day Exponential Moving Average (EMA) at $94,207, the 100-day EMA at $99,878, and the 200-day EMA at $102,386, which emphasizes the prevailing bearish conditions. A close above the downward trend line and the 50-day EMA will strengthen the bullish grip and enhance the chances of a sustained recovery, targeting the dynamic resistance from the 50-day EMA and the 100-day EMA.

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