$BTC Bitcoin Recovery Gains Momentum: 14% Surge Possible?

After facing rejection from the $84,000-$85,000 zone, Bitcoin has reclaimed this range, surging 4.7% from last week's levels. The cryptocurrency closed the week above $86,000 and briefly touched $88,765, but slowed bullish momentum prevented further gains.

Despite this, Bitcoin has maintained its current range, hovering between $86,000-$88,000. Analyst Alex Clary notes that Bitcoin's momentum "looks awesome" for a break above $88,000-$90,000, citing:

- Relative Strength Index (RSI) bullish divergence

- V-shaped recovery

- Break above downtrend resistance

A breakout above $90,000 could propel Bitcoin 8-14% higher, reaching $95,000-$100,000 levels. Meanwhile, Daan Crypto Trades observes that Bitcoin's price correlation with the S&P 500 (SPX) may explain its recent dump and bounce. However, he notes that Bitcoin is trading at a solid spot premium, suggesting a potential move to new local highs if current levels are maintained.

Key Levels to Watch:

- $86,000-$88,000 support zone

- $88,000-$90,000 resistance zone

- $90,000 breakout level

- $95,000-$100,000 potential target range