Bitcoin (BTC) has staged a remarkable 21% recovery in a span of 30 days, pushing the market’s largest cryptocurrency above the $81,000 level for the first time since January. Now BTC is approaching a key resistance, which – if surpassed by a daily close – could open the door to higher levels.
Bitcoin is targeting $89,000 and $94,000
Technical analyst Ali Martinez pointed out this momentum in a recent post on X (formerly Twitter), arguing that Bitcoin continues to show “structural strength.”
Martinez referred to a bullish Moving Average Convergence Divergence (MACD) crossover on Bitcoin’s weekly chart that occurred on April 13. Since that weekly signal appeared, BTC has gained about 15% in a relatively steady rut, reinforcing the idea that the trend may be shifting rather than just bouncing randomly.
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What makes the weekly Bitcoin MACD crossover particularly notable is how it has behaved historically. According to Martinez’s summary of previous examples, the same kind of crossover preceded major rallies lasting several months in previous cycles.
The October 23, 2023 crossover was followed by a 147% rally. Another example on October 14, 2024 led to a 75% increase, while the May 5, 2025 crossover resulted in a 35% rally.
Even against the broader bullish backdrop, the short-term chart still represents an important test. Martinez emphasized that Bitcoin is near the 200 day simple moving average (200SMA), currently around $83,000.
He described this area as the most important psychological and structural barrier on the daily chart. According to him, a clean daily close above this level could open the door for a macro expansion, first towards $89,000, with a secondary target near $94,000.
Bull market support band regained
Complementing the technical picture, market expert Sam Daodu also highlighted a separate indicator regarding Bitcoin’s Bull Market Support Band (currently at $79,000), which is made up of the 20-week simple moving average (SMA) and the 21-week exponential moving average (EMA).
Daodu noted that when Bitcoin reclaimed this band after spending a long period below it, the market tended to follow strong rallies – often reaching 50% or more within a few months.
Applying that pattern, the bullish path Daodu suggested could take BTC to around $121,000, which would still be just below the all-time high around $126,000 reached in October last year.
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Still, even with bullish signals queue, the situation is not considered resolved. The reports emphasize that Bitcoin needs to regain and hold above these levels to maintain momentum.
It remains uncertain whether Bitcoin can successfully continue to resist, or whether the latest rise above $81,000 could be followed by another correction.
Featured image created with OpenArt, chart from TradingView.com