Analyst: Bitcoin Showing ‘Bull Market Characteristics,’ Could Rally to $90K

BlockBeats News, April 15th, according to Cointelegraph reports, Bitcoin surged over 5% on Tuesday, reaching a daily high of $76,120, the highest since February 6th, successfully reclaiming the key $75,000 support area — which is the confluence of the 100-day moving average and the simple moving average.

Technically, Bitcoin had broken above the upper bound of the ascending triangle at $73,000 on Monday. Analyst CryptoBlockto stated: "Bitcoin breaking $76,000, surpassing the March high, sends a bullish signal for a re-strengthening." He pointed out that if the daily close stabilizes above the $75,000 moving average area, it will confirm the breakout formation, with the next resistance at the psychological $80,000 mark, the ascending triangle measuring target pointing to $89,050, about 18% higher than the current price. The daily RSI has now risen to 63, previously falling to an oversold level of 15 on February 6th.

On-chain data shows that Bitcoin's average daily transaction count has increased by 62% since 2026, reaching 765,130 transactions on April 5th, hitting a 17-month high, on par with the level during the 2024 U.S. presidential election when Bitcoin first broke $100,000. Analyst CW8900 stated: "The current daily Bitcoin transaction count is higher than when the BTC price was at $120,000, showing bullish behavior." Glassnode noted in its latest market report that Bitcoin's total fee income has grown by 4% over the past week, rising to $153,700, indicating "increasing on-chain demand," and stated: "This growth suggests a rise in network activity, potentially signaling a shift in willingness by users to increase fee expenditures to compete for transaction priority."