Bitcoin Exhibits “Bullish Characteristics”; Chart Patterns Point to $90,000
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Bitcoin Exhibits “Bullish Characteristics”; Chart Patterns Point to $90,000
Signs of divergence correction between network activity and price have emerged, and multiple analysts believe the trend reversal is being confirmed.
Navigating Web3 tides with focused insightsAuthor: Nancy Lubale
Translation & Editing: TechFlow
TechFlow Digest: Bitcoin surged over 5% on Tuesday, breaking above $76,000—the highest level in 70 days. Technically, BTC has broken above the upper trendline of an ascending triangle, with a quantitative target at $89,050. On-chain data is also strengthening: daily transaction count spiked 62%, reaching its highest level since November 2024—when Bitcoin was trading near $120,000. Signs of divergence correction between network activity and price are emerging, and multiple analysts believe a trend reversal is now being confirmed.
Market analysts say Bitcoin (BTC) is exhibiting “renewed bullish momentum” after rising over 5% on Tuesday to breach $76,000, with bulls targeting $90,000 amid improving on-chain network activity.
Bitcoin Hits 70-Day High
Data from TradingView shows BTC/USD rose more than 5% on Tuesday, peaking at $76,120—a level last seen on February 6.
This rally has re-established Bitcoin above several key support levels, including the confluence zone near $75,000 formed by the 100-day exponential moving average (EMA) and simple moving average (SMA).
@CryptoBlockto tweeted: Bitcoin has broken above $76,000 and reclaimed its March high, confirming renewed bullish momentum. The next critical resistance lies at $76,000; a decisive breakout would confirm a trend reversal and sustained upward momentum.
Caption: BTC/USD 4-hour chart. Source: X/CryptoBlockto
Technically, Bitcoin is validating a breakout from an ascending triangle—price broke above the upper trendline at $73,000 on Monday.
A daily close above the moving average zone near $75,000—a reference to moving averages—would confirm the breakout’s validity, with the next resistance level at the psychological milestone of $80,000.
Beyond that, bulls could push price toward the ascending triangle’s quantitative target of $89,050—approximately 18% higher than current levels.
Caption: BTC/USD daily chart. Source: Cointelegraph/TradingView
The daily RSI (Relative Strength Index) has rebounded from an oversold reading of 15 on February 6 to 63, indicating steadily strengthening bullish momentum.
@ImCryptOpus tweeted: Bitcoin is currently trading within the horizontal supply zone of an ascending triangle, while the 100-day moving average also forms resistance just above the current price. A strong breakout above both the triangle’s upper trendline and the 100-day MA would confirm the market has entered a bullish phase.
Cointelegraph previously reported that a daily close above $76,000 would complete the bullish ascending triangle pattern, opening the path toward $84,000.
Bitcoin Transaction Activity Hits 17-Month High
Alongside rising prices, on-chain data is also strengthening. Bitcoin’s daily transaction count has increased 62% year-to-date in 2026, reaching 765,130 transactions on April 5.
The last time this level was reached was in November 2024, during the U.S. presidential election frenzy that drove Bitcoin’s first-ever breach of $100,000.
@CW8900 tweeted: Daily Bitcoin transaction count is now higher than when BTC was trading at $120,000. The network is displaying bull-market characteristics.
Caption: Bitcoin daily transaction count. Source: CryptoQuant
Total Bitcoin fee revenue is also rising, up 4% over the past week to $153,700. In its latest Market Pulse report, Glassnode noted this reflects growing on-chain demand:
“Rising fees indicate increasing network activity and users’ willingness to pay for transaction priority.”
Caption: Bitcoin total transaction fees. Source: Glassnode
The concurrent growth in transaction count and fee revenue suggests more users are actively interacting with the network. Rising on-chain activity typically correlates with heightened market interest and participant confidence—particularly noteworthy when prices remain relatively low.
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