PANews reported on April 21 that according to technical analysis by CoinDesk analyst Omkar Godbole, the price of Bitcoin broke through $87,000, showing strong upward momentum, with the target likely to be in the $90,000 to $92,000 range. Previously, Bitcoin had a bullish breakout after a week of consolidation between $83,000 and $86,000. The current trend shows that Bitcoin's recovery momentum from the low of less than $75,000 on April 7 is continuing. This optimistic outlook could be negated if the price of Bitcoin falls back below $85,000.
The analysis noted that Bitcoin has surpassed the 30-day exponential moving average (EMA), showing bullish momentum, while the 200-day simple moving average (SMA) is at $88,245.
