Bitcoin (BTC) has seen a notable increase of more than 4% over the past 24 hours and over 5% in the last seven days, as it attempts to regain the $90,000 price level. This recent price rebound follows improvements in several technical indicators, which suggest the potential for growing bullish momentum in the market.

As Bitcoin continues its attempt to reclaim the $90,000 threshold, traders are closely monitoring whether it can successfully do so and establish a stronger foundation for further gains. Multiple trend indicators, such as the Directional Movement Index (DMI), Ichimoku Cloud, and Exponential Moving Average (EMA) lines, are signaling that a potential breakout may be forming.

The DMI chart for Bitcoin shows a significant uptick in momentum. The Average Directional Index (ADX) has risen to 18.24 today, compared to 9.2 just yesterday, indicating that the current trend's strength is increasing. Typically, an ADX reading below 20 signifies weak or range-bound market conditions, so this rise could be an early indication of a developing trend. While the ADX alone does not determine the trend's direction, it measures overall strength, and today's reading suggests that momentum is starting to build.

The ADX is a commonly used technical tool that assists traders in assessing the intensity of a market trend. A reading below 20 generally implies the absence of a clear trend, whereas values above 25 suggest a strong trend is present. Alongside the ADX, the Positive Directional Indicator ( DI) and Negative Directional Indicator (-DI) offer insights into the trend's direction. Currently, the DI has surged to 34.7 from 16.57 yesterday, while the -DI has fallen to 11 from 21.17. This widening gap between the DI and -DI indicates that bullish momentum is gaining prominence, as buyers appear to be overpowering sellers. If this trend persists, it could signal further upward movement in BTC's price in the near term, as the market transitions toward a more decisive bullish trend and Bitcoin ETFs exhibit signs of recovery.

The Ichimoku Cloud chart for Bitcoin displays the Tenkan-sen (blue line) and Kijun-sen (red line) crossing in a bullish configuration. The faster Tenkan-sen moving above the slower Kijun-sen indicates a shift in momentum. These lines have converged after a period of divergence, reflecting strengthening trend conditions. The cloud formation (Kumo) has transitioned from red to green in the right section of the chart, marking a change from bearish to bullish sentiment. Price action has broken above the cloud after testing it as support multiple times during mid-March. This emergence above the cloud suggests that previous resistance may have turned into support. The cloud's varying thickness throughout the period reflects changes in market volatility and conviction in the trend's direction.

Bitcoin's EMA lines are presenting mixed signals. Although the broader trend remains bearish, short-term exponential moving averages have begun to incline, and a recent golden cross indicates that bullish momentum is accumulating. Should this momentum persist and additional golden crosses occur, Bitcoin's price could aim for key resistance levels. The initial major resistance stands at $92,920, and a successful breakout might push BTC toward $96,484. If the uptrend strengthens further, Bitcoin may test $99,472. It has the potential to surpass $100,000 for the first time since February 3, driven by five U.S. economic events that could impact Bitcoin sentiment this week.

Nevertheless, the bullish scenario depends on sustained buying pressure. If the upward momentum wanes and the broader bearish trend resumes, Bitcoin could initially retest the support level at $85,124. A breakdown beneath this level might create an opening for a decline toward $81,187, with further downside possibly driving BTC back below the $80,000 mark.

In a stronger bearish scenario, Bitcoin could revisit $76,642, reinforcing the bearish bias.

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