Analyst: Bitcoin may rise to the range of $90000 to $92000

BlockBeats News: On April 21st, CoinDesk analyst Omkar Godbole posted that Bitcoin's recent range volatility turned bullish on Monday morning, with a focus on the $90000- $92000 range, which was previously a strong support area. Bitcoin broke through $87000 today, decisively breaking free from the consolidation of the past week between $83000-86000. Bulls have shown a renewed willingness to lead the price trend, indicating that the recovery from the low below $75000 on April 7th has restarted. This also means that the price may continue to rise to the range of $90000 to $92000, which served as bottom support from December last year to early February this year, preventing the price from falling. The support area was eventually breached at the end of February, triggering a rapid decline below $75000. Previously, the bearish trend line shown on the daily chart, which had fallen from historical highs, has been broken through and invalidated. BTC also broke through the price high of the 30 day moving average (EMA), indicating a shift in momentum towards bullish sentiment. Therefore, the focus is on the $90000- $92000 range, which was the support zone earlier this year. Investors who pay attention to the moving average should note that the 200 day simple moving average (SMA) is currently at $88245. If the price falls back to $85000 before the end of the day (UTC time), the bullish outlook will face the risk of being invalidated.