TechFlow news, April 12 — According to CoinJournal, Bitcoin has rebounded over 11% from its April 7 low of $74,400, and is now nearing $84,000. Renowned technical analyst John Bollinger has identified a potential W-shaped reversal pattern on the weekly chart. The pattern shows two distinct troughs: around $76,600 in March and $74,400 in April. The lower Bollinger Band at $77,138 provides key support. Analysts say that if BTC breaks above the $90,000 resistance level on strong volume, it would confirm the W-bottom formation, with a potential target of $106,000. On-chain data indicates that selling pressure is easing as realized losses decline.
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