Bitcoin price chart targets $90k as trading volume hits 17-month high
Market analysts say Bitcoin (BTC) is showing “renewed bullish momentum” after a 5% rally above $76,000 on Tuesday, with bulls eyeing a further gain to $90,000 on improving network activity.
Bitcoin price hits 70-day high.
According to data from TradingView, the BTC/USD pair rose more than 5% to $76,120 on Tuesday, levels last seen on February 6.
Bitcoin price has seen a recapture of key support levels, including the $75,000 zone where the 100-day exponential and simple moving averages converge.
“#Bitcoin rose above $76,000, breaking above March highs and showing renewed bullishness,” analyst CryptoBlockto said in a post on X on Tuesday.
The analyst pointed out that the next critical resistance zone is $76,000 and clearing this would confirm a “trend reversal and continued downward movement”.
From a technical perspective, Bitcoin is confirming an ascending triangle after breaking above the upper trend line at $73,000 on Monday.
A daily candle closing above the moving averages confirms the opening at $75,000, while the next line of resistance is the psychological level at $80,000.
Beyond that, bulls could push the price of BTC to the triangle measured at $89,050, 18% above its current price.
The daily relative strength index rose to 63 from 15 oversold conditions reached on February 6, suggesting an increase in bullish momentum.
“#Bitcoin is #trading in an ascending triangle pattern in the horizontal supply zone. The 100MA is also acting as a resistance barrier above the current price action,” analyst CryptOpus said in a recent X post:
“A strong breakout above both the #pattern and 100MA confirms a #bullish rally in the market.”
According to Cointelegraph, the close above $76,000 will complete an ascending triangle pattern, clearing the way for a rally towards $84,000.
Bitcoin trading activity has reached a 17-month high
The strength in BTC's price is reflected in the onscene activity, with Bitcoin's daily transaction count rising 62% to 765,130 million on April 5, 2026.
The benchmark was last at these levels in November 2024, when the hype surrounding the 2024 US presidential election pushed Bitcoin's price above $100,000 for the first time in history.
“$BTC's daily trading volume is higher than when $BTC was $120k,” analyst CW8900 said in an X post on Tuesday.
“The network is exhibiting bull market behavior.”
Bitcoin's total payout also increased by 4% last week to $153,700.
“This increase indicates an increase in network activity, which may indicate a change in the user's willingness to pay for transaction priority.”
The increasing number of Bitcoin transactions and payments means more users are connecting to the network. It indicates high network activity, which is often associated with increased demand and market confidence.
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