Bitcoin Surges Over 10% to Retest Key $90,000 Resistance Level

Bitcoin (BTC) has surged over 10% this week, retesting the $85,000 barrier for the first time in weeks. Analysts indicate that holding key levels will determine BTC's next moves.

Bitcoin Reclaims Key Levels

BTC recovered from an early April drop below $80,000, climbing 11% in the past week.
It broke through the $90,000 resistance on Tuesday and maintained this position for 24 hours.
Analyst Daan Crypto Trades noted a solid breakout above the Daily 200MA/EMA.
Bitcoin is currently testing a multi-month downtrend line and significant moving averages.
Staying above the $90,000-$91,000 range is crucial to confirm the breakout.
Ali Martinez emphasized the importance of the yearly opening level at $93,500 as potential resistance if not reclaimed.

Focus on Weekly Close

Crypto Jelle referred to $93,500 as the last line of defense for bears; recovering this level could change market dynamics.
Rekt Capital mentioned that BTC needs to stabilize above $93,500 to confirm the end of its price correction.
A weekly close above $87,000 would position BTC for a confirmed breakout.

Currently, Bitcoin is trading at $93,459, reflecting an 8.2% increase over the month.