Bitcoin shows ‘bull market behavior’ as chart pattern targets $90K

Bitcoin rallied to $76,000 on Tuesday as a bullish chart breakout and increasing onchain activity hint at an extended rally to $90,000.

Market analysts say Bitcoin (BTC) is showing “renewed bullish momentum” after its 5% rally above $76,000 on Tuesday, with bulls eyeing further gains to $90,000 amid improving network activity.

Data from TradingView shows the BTC/USD pair rose over 5% on Tuesday to an intraday high of $76,120, levels last seen on Feb. 6. 

The surge saw Bitcoin's price reclaim key support levels, including the $75,000 zone where the 100-day exponential and simple moving averages converge.

“#Bitcoin surged above the $76,000 level, breaking above its March highs and signaling renewed bullish momentum,” analyst CryptoBlockto said in an X post on Tuesday.

The analyst pointed out that the next crucial resistance zone is $76,000 and that clearing it would confirm “a trend reversal and sustained upside momentum.”

From a technical perspective, Bitcoin is validating an ascending triangle after breaking above its upper trend line at $73,000 on Monday. 

A daily candlestick close above the moving averages at $75,000 would confirm the breakout, with the next line of resistance being the psychological level at $80,000.

Above that, bulls could push the BTC price toward the triangle's measured target of $89,050, 18% above the current price.

The daily relative strength index has increased to 63 from oversold conditions at 15 reached on Feb. 6, suggesting increasing bullish momentum.

“#Bitcoin is #trading within the horizontal supply zone of an ascending triangle pattern. The 100MA is also acting as a resistance barrier above the current price action,” analyst CryptOpus said in a recent X post, adding:

As Cointelegraph reported, a close above $76,000 would complete a bullish ascending triangle pattern, clearing the path for a potential rally to $84,000.

The strength in BTC price is reflected in onchain activity, with Bitcoin’s daily transaction count rising by 62% in 2026 to 765,130 million on April 5.

This metric was last at these levels in November 2024, when the hype around the 2024 US Presidential Election pushed Bitcoin price above $100,000 for the first time in history.

“$BTC daily transaction count is higher than when $BTC was $120K,” analyst CW8900 said in an X post on Tuesday, adding:

Bitcoin’s total fee volume has also climbed, increasing by 4% over the last week to $153,700, indicating “heightened onchain demand,” Glassnode said in its latest Market Pulse report, adding:

Bitcoin’s increasing transaction count and fees mean that more users are interacting with the network. It suggests high network activity, which is often correlated with increased interest and market confidence.

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Source: CoinTelegraph