Bitcoin broke past its previous $67,543.26 target, reaching $87,590.

Analysts forecast a new target range of $116,600 – $118,800.

Bullish divergences confirm continued upward momentum.

Bitcoin has defied expectations once again. After initially setting a breakout target of $67,543.26 from a $19K level, the cryptocurrency surged to its current price of approximately $87,590. This impressive performance not only surpassed the earlier target but also sparked fresh optimism within the crypto community.

Bullish Divergences Support the Uptrend

A notable characteristic of Bitcoin’s recent price action is the confirmation of bullish divergences. Technical analysts often interpret these signals as strong indicators of trend reversals and continued upward momentum. With these divergences confirmed, experts now suggest a new price target range between $116,600 and $118,800.

At $19K Bitcoin, we noticed a price breakout with $67543.26 as the target and a bull divergence + breakout suggesting a trend reversal and a >3X to reach it.

Today, $BTC stands at ≈$87,590, holding above our older target with $116,600 – $118,800s as the current target coming… https://t.co/JUwsLJMhHJ pic.twitter.com/Geo6ZaPhH1

— JAVONMARKS (@JavonTM1) March 27, 2025

What’s Driving Bitcoin’s Momentum?

Several factors contribute to Bitcoin’s ongoing rally. Increased institutional interest, favorable macroeconomic conditions, and growing adoption have bolstered market confidence. Additionally, the upcoming Bitcoin halving event and reduced supply may add further fuel to the bullish momentum.

Investors and traders are closely monitoring key resistance levels and market developments. While volatility remains a constant in the crypto space, Bitcoin’s recent breakout suggests that further gains could be on the horizon.

Read Also :

Bitcoin’s Bullish Trend Targets $118,800 After Strong Rally

USDT0 Goes Live on OP Mainnet and Superchain

Fidelity’s Bitcoin ETF Makes a $97.1M Purchase of 1,120 BTC

Upbit Issues Warning on HIFI Token Amid DAXA Watchlist

SEC Dismisses Civil Case Against Kraken, Boosting Crypto Confidence

The post Bitcoin’s Bullish Trend Targets $118,800 After Strong Rally appeared first on Coinomedia.com.