Bitcoin pushed higher after a roughly 7% advance above $72,000 on Tuesday, with analysts saying the move has set up a bullish technical picture and opened a path toward a $90,000 target amid improving macro sentiment.
Technical setup
BTC reclaimed key support zones, including the $68,000 area where the 200-week exponential moving average and the 50-day simple moving average converge. Traders say that reclaiming these levels reinforces a constructive outlook.
‘Bitcoin breaks through the crucial $71K level and builds a bullish structure,’ MN Capital founder Michael van de Poppe said, noting that the next notable resistance sits near $80,000 and that maintaining support around $70,000 is needed to sustain a run toward $90,000. He added that continued higher lows and higher highs would preserve upward momentum.
On the chart, BTC/USD appears to be validating a symmetrical triangle breakout after moving above the upper trend line close to $70,000. A daily close above that line would confirm the breakout, with the next resistance around the $76,000 range high. If bulls clear $76,000, $80,000 is the next barrier before the triangle’s measured target near $90,000 — roughly 25% above current levels.
Momentum indicators have flipped more bullish as well. The daily RSI has climbed to about 56 from an oversold 15 on Feb. 6, suggesting growing upside conviction. Market participants say keeping price above roughly $69,500 in the near term will be important to sustain the recovery.
Aggressive buying on Binance
Bullish pressure was apparent on derivatives platforms, especially Binance. Data shared by CryptoQuant contributors showed Binance taker buy volume — the dollar amount of aggressive market buys on Binance futures — jumped by $2.7 billion within two hours after the US-Iran ceasefire announcement (about $1.2B then $1.5B), a sign of heavy buying activity.
CryptoQuant contributor DarkFost noted the sudden inflow enabled short-term repositioning and sent a constructive signal for Bitcoin. Analyst Amr Taha added that Binance’s cumulative test taker volume rose to $1.02 billion, the highest since March 17, indicating a sharp return of aggressive buying. ‘This suggests Binance traders were buying aggressively into improving macro sentiment, not just reacting to a crypto-specific headline,’ he said.
Other metrics also point to renewed demand: Coinbase’s Bitcoin premium index has flipped positive, marking a return of buying interest from U.S. investors after a stretch of negative readings.
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