- BTC Breaks Wedge, Eyes $90K on Volume Surge
- $87K Reclaimed as RSI and MACD Turn Bullish
- Dollar Drop Fuels Bitcoin’s Safe-Haven Demand
Bitcoin (BTC) is showing strong signs of a breakout, climbing past $87,000 for the first time since March 28. The move follows a consolidation phase and confirms renewed buying strength in the market. With rising volume and supportive macro signals, BTC could be preparing for a continuation toward higher targets.
Price Breakout Confirmed as Technicals Turn Positive
BTC/USD touched $87,765 on April 21 after rebounding from a low of $84,000, gaining over $3,000 within 24 hours. The breakout above the key resistance at $87,765 occurred with high trading volume, confirming market conviction.
According to an observation by analyst Ali Martinez, the move completes a falling wedge breakout on lower timeframes. Bitcoin is currently trading within a wide range between $84,000 and $88,000, with short-term support at $85,500 and key resistance near $88,000.
Analysts now view $89,000 as the next technical target, and a close above this level could open the door for a move toward $90,000. On the four-hour chart, price structure remains bullish, with moving averages across 10 to 50 periods all trending upward.
Macro Sentiment Supports Short-Term Momentum
Bitcoin’s market surge follows dollar devaluation and strengthening bonds between Bitcoin and gold which act as stores of value. The U.S. Dollar Index has fallen 10% year-to-date amid global uncertainty, fueling interest in decentralized assets.
Volume remains strong at $24.5 billion, and market capitalization now exceeds $1.73 trillion. The Bollinger Bands show a moderate squeeze, hinting at possible continuation if volatility expands. Oscillators present mixed signals, though short-term momentum remains favorable.
RSI sits at 57, and MACD shows a positive crossover.Traders are monitoring the $86,000–$86,300 zone for potential re-entry opportunities and watching for a sustained move above $88,000 to confirm trend continuation.
