Bitcoin, according to market analysts (BTCThe ” symbol is shown “renewed bullish momentum” After its 5% rise above $76,000, bulls aim to further gain up to $90,000 amid improved network activity.
Bitcoin prices hit a high of 70 days
Data from TradingView Shows the BTC/USD pairs rose more than 5% on Monday to an intraday high of $76,120Last seen in February 6,
Bitcoins’ price surged to key levels of support, such as the $75,000 area where 100-day moving averages and exponentials intersect.
“#Bitcoin surged above the $76,000 level, breaking above its March highs and signaling renewed bullish momentum,” CryptoBlock To Analyst said On Tuesday, a X posted.
Analysts pointed out the $76,000 resistance level as being next in line. “a trend reversal and sustained upside momentum.”
Bitcoin, from a technical standpoint, is validating a triangle ascendant after it broke above its upper trendline at $73,000 Monday.
The daily candlestick is positioned above the close. moving averages At $75,000, the break-out would be confirmed. The next psychological resistance level is at $80,000.
Bulls may push BTC’s price to $89,050 (the triangle’s target) which is 18% more than its current value.
On February 6, the daily relative strength indicator had reached 15 oversold levels, which indicated a growing bullish sentiment.
“#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,” CryptOpus Analyst said In a recent X posting, add:
“A strong breakout above both the #pattern and the 100MA would confirm a #bullish rally in the market.”
Cointelegraph reportedA close above $76,000 will complete the bullish ascending triangular pattern and open up the way for an eventual rally towards $84,000.
Bitcoin transaction volume reaches 17-month peak
Bitcoin’s activity on-chain is also a good indicator of BTC strength. In 2026, the daily Bitcoin transaction count will increase by 62% to 765.130 millions.
The last time this metric reached these levels was in November 2024 when the excitement surrounding the US Presidential Election of 2024 pushed the metric upwards. Bitcoin price above $100,000 For the first time, in human history.
“$BTC daily transaction count is higher than when $BTC was $120K,” Analyst CW8900 said Add this to the X on Tuesday:
“The network is showing bull market behavior.”
Bitcoin’s total fee has also grown, up 4% from the previous week to $153 700, showing “heightened onchain demand,” Glassnode said In its latest Market Pulse Report, the report adds:
“This increase implies an uptick in network activity, potentially signalling a shift in user willingness to pay for transaction priority.”
Bitcoin’s growing transaction number and fee means that users are more active on the network. This indicates high activity on the network, which can be correlated to increased market interest.
It is intended solely for informational use and has been written in compliance with Cointelegraph’s editorial policies. The article is not intended to be investment advice. The reader is encouraged to do independent research prior to making decisions. Cointelegraph cannot guarantee accuracy and completeness in the information provided, which includes forward-looking statement, nor can it be held responsible for loss or damages resulting from this content.
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: cointelegraph.com
