Analyst: Bitcoin is expected to rebound to the range of $90,000 to $92,000

ChainCatcher news, according to CoinDesk, analyst Omkar Godbole's technical analysis shows that Bitcoin's price has broken through $87,000, indicating strong upward momentum, with a target range of $90,000 to $92,000.

Previously, Bitcoin consolidated between $83,000 and $86,000 for a week before a bullish breakout occurred. The current trend suggests that Bitcoin's recovery momentum from the April 7 low of below $75,000 is still ongoing. If the Bitcoin price falls back below $85,000, this optimistic outlook may be negated.

Analysis indicates 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.