Analyst: Bitcoin Showing ‘Bull Market Characteristics,’ Could Rally to $90,000

April 15th – Bitcoin surged more than 5% on Tuesday, hitting an intraday high of $76,120, its highest level since February 6, per Cointelegraph. The rally successfully reclaimed the key $75,000 support zone, which aligns with both the 100-day moving average and the simple moving average. Technically, Bitcoin had already broken above the upper bound of an ascending triangle at $73,000 on Monday. Analyst CryptoBlockto noted: “Bitcoin’s push above $76,000 and breach of its March high signals a bullish outlook. A daily close above the $75,000 moving average zone will confirm the breakout, with the next resistance at the psychological $80,000 level. The ascending triangle’s measured target stands at $89,050—roughly 18% above current prices. The daily RSI has climbed to 63, after dropping to oversold territory at 15 on February 6.” On-chain data shows Bitcoin’s average daily transaction count has jumped 62% since early 2024, hitting 765,130 on April 5—its highest level in 17 months, matching levels seen during the 2024 U.S. presidential election when BTC first topped $100,000. Analyst CW8900 commented: “Current daily transaction counts are higher than when BTC traded at $120,000, pointing to bullish network activity.” Glassnode, in its latest market report, noted Bitcoin’s total fee income rose 4% over the past week to $153,700, signaling “increased on-chain demand.” The firm added: “This growth reflects rising network activity, indicating a greater willingness to pay higher fees to secure transaction priority.”