On April 21, 2025, at 16:03, BlockBeats reported that CoinDesk senior analyst Omkar Godbole released an in-depth analysis, pointing out a crucial turning point in the recent Bitcoin market trend — on Monday morning, market sentiment shifted from range-bound oscillation to significantly bullish, with target price levels aiming directly at the $90,000-$92,000 range. This price range had previously been an important support level for Bitcoin, playing a key role in market fluctuations.
On that day, Bitcoin's price successfully broke through the $87,000 mark, completely escaping the consolidation pattern of the past week in the $83,000-$86,000 range. Bullish momentum re-dominated the market, marking the full restart of the rebound from the April 7 low of below $75,000. The market widely anticipates that Bitcoin's price will continue its upward trend, targeting the historical support area of $90,000-$92,000. This area had successfully prevented price declines several times from last December to early February, becoming a 'safety cushion' for the market. However, the breakthrough drop at the end of February broke this support, causing Bitcoin's price to quickly fall below $75,000.
From a technical analysis perspective, the previously formed bearish trend line on the Bitcoin daily chart has been effectively broken, and market momentum has significantly strengthened. At the same time, Bitcoin's price has successfully risen above the peak of the 30-day exponential moving average (EMA), further confirming the robustness of the bullish trend. Therefore, the market focus naturally shifts to the key price level of $90,000-$92,000.
For investors focusing on moving averages, the 200-day simple moving average (SMA) is currently around $88,245, making this position an important reference for assessing market trends. If Bitcoin's price falls below $85,000 before the end of the day (UTC time), the bullish outlook will face severe challenges, and market sentiment may reverse.