Bitcoin's recent range oscillation turned bullish on Monday morning, with the focus shifting to the $90,000-$92,000 range, which was previously a strong support area.

Bitcoin broke through $87,000 today, decisively escaping the consolidation between $83,000-$86,000 over the past week. Bulls have shown renewed willingness to lead price movements, indicating that the recovery from the April 7 low of below $75,000 has restarted. This also means that prices may continue to rise to the $90,000-$92,000 range, which served as bottom support from last December to early February, preventing prices from falling. This support area was ultimately broken at the end of February, triggering a rapid decline below $75,000.

Previously, the bearish trend line from the historical high on the daily chart has been broken and rendered ineffective. BTC also broke above the price high of the 30-day Exponential Moving Average (EMA), indicating a shift in momentum to bullish. Therefore, the focus is on the $90,000-$92,000 range, which was the support area earlier this year.

Investors watching moving averages should note that the 200-day Simple Moving Average (SMA) is currently at $88,245. If the price falls back to $85,000 before the end of the day (UTC time), the bullish outlook will face a risk of failure.