Analysis: BTC breakthrough of $87000 may drive BTC rebound to the range of $90000 to $92000

According to technical analysis by Omkar Godbole, an analyst at CoinDesk, the price of Bitcoin has broken through $87000, demonstrating strong upward momentum, with a potential target range of $90000 to $92000. Previously, after a week of consolidation between $83000 and $86000, Bitcoin experienced a bullish breakout. The current trend indicates that the momentum of Bitcoin's recovery from its low below $75000 on April 7th is still ongoing. If the price of Bitcoin falls below $85000, this optimistic outlook may be negated. Analysis indicates that Bitcoin has surpassed its 30 day exponential moving average (EMA), demonstrating bullish momentum, while its 200 day simple moving average (SMA) is at $88245.