Bitcoin has bounced back strongly over the last month, increasing by 21% and reaching over $81,000 – a level it hasn’t seen since January. Now, it’s nearing a crucial price point, and breaking through it could lead to further price increases.
Bitcoin Targets $89,000 And $94,000
In a recent post on X (formerly Twitter), technical analyst Ali Martinez noted Bitcoin’s positive momentum, suggesting it’s still demonstrating underlying strength.
According to Martinez, Bitcoin’s price has been steadily increasing by around 15% since April 13th, following a positive signal from a technical indicator called the Moving Average Convergence Divergence (MACD) on its weekly chart. This consistent growth suggests a potential change in the overall trend, rather than just a temporary price fluctuation.
The recent weekly Bitcoin MACD crossover is significant because similar patterns have historically signaled large, sustained price increases. As Martinez points out, this crossover has often appeared before major multi-month rallies in the past.
Three times when the moving averages crossed – on October 23, 2023, October 14, 2024, and May 5, 2025 – the price significantly increased. These increases were 147%, 75%, and 35% respectively.
Despite the overall positive trend, Bitcoin is facing a crucial test in the short term. According to Martinez, the price is approaching the 200-day simple moving average, which is currently around $83,000.
He identified a key price level on the daily chart as a major hurdle. Breaking above this level, with a strong daily close, could signal a significant rally, initially aiming for $89,000, and potentially reaching $94,000 afterwards.
Bull Market Support Band Reclaimed
In addition to the technical factors, market analyst Sam Daodu pointed out another signal: Bitcoin’s Bull Market Support Band, which is currently around $79,000. This band is calculated using the 20-week simple moving average and the 21-week exponential moving average.
As I’ve observed, Bitcoin often experiences significant price increases – frequently 50% or more within a few months – whenever it breaks above a certain price level after a prolonged period of trading below it. This pattern has been consistent in my analysis.
Based on Daodu’s analysis, Bitcoin could potentially rise to around $121,000. This would still be slightly below its previous peak of approximately $126,000 from October of last year.
Despite the positive signs, the situation remains uncertain. Reports indicate that Bitcoin must stay above current levels to keep the upward trend going.
It’s still unclear if Bitcoin will keep breaking through its resistance levels, or if the recent jump past $81,000 will be followed by a price drop.
Read More
- Gold Rate Forecast
- What is Omoggle? The AI face-rating platform taking over Twitch
- Elden Ring Is Back With A New Free Game, Thanks To The Fans
- Audible opens first ‘bookless bookstore’ in New York
- Wartales Curse of Rigel DLC Guide – Best Tips, POIs & More
- 10 Adorable Quotes from Diana in Pragmata
- Netflix’s Remake Of R-Rated Denzel Washington Classic Carries On A Rotten Tomatoes Trend
- Man pulls car with his manhood while on fire to raise awareness for prostate cancer
- Euphoria Season 3 Trailer Confirms The Show’s Identity Has Been Lost
- The Devil Wears Prada 2 Cameos You May Have Blinked and Missed (Plus Lady Gaga)
2026-05-06 06:58