Bitcoin Closes Above Key Level Weekly, Analyst Predicts May Could Target $88,000

BroadChain News, April 28 - According to NewsBTC, Bitcoin has closed above $78,000 on a weekly basis for the first time since January, while reclaiming the 21-week exponential moving average (EMA). Analyst Rekt Capital noted that if this moving average is confirmed as support, the price could move toward the $81,000-$82,500 range. Ali Martinez stated that if the $77,000 support level holds, Bitcoin could rebound to $81,500 within a 4-hour ascending channel, with a second target of $84,500.

Analyst Sjuul believes that after breaking out of the $66,000-$74,000 consolidation range, Bitcoin is now forming a new "cage" in the $74,000-$80,000 range. Michaël van de Poppe warned that despite the bullish market sentiment, the key resistance level is at $79,000, and after breaking through, the next resistance zone is $85,000-$88,000, with a long-term potential to test the psychological $100,000 mark. He predicts that Bitcoin will test the $85,000-$88,000 area in May, followed by consolidation or a pullback.