Bitcoin (BTC) has surpassed the $90,000 mark for the first time since March 5, driven by increasingly positive momentum indicators. This latest rally coincides with a sharp rise in the ADX, the formation of a bullish Ichimoku Cloud pattern, and the alignment of exponential moving averages (EMAs) favoring further upward movement.

Market sentiment appears to be shifting in favor of buyers, as evidenced by buying pressure outpacing selling activity and ETF inflows reaching a three-month high. Should resistance be overcome, BTC might pave the way for a move toward $100,000, further solidifying its role as a hedge against broader market volatility.

The Directional Movement Index (DMI) is highlighting a notable change in momentum, with the ADX climbing significantly to 29.48 from just 15.3 two days prior. The ADX, which gauges the intensity of a trend irrespective of its direction, shows readings below 20 indicating a weak or sideways market, whereas values above 25 signal the emergence of a strong trend. With the ADX nearing 30, the present movement is gaining momentum, affirming the establishment of a more defined directional trend.

Upon examining the DMI components, the positive directional indicator ( DI) currently stands at 30.99, almost doubling from 15.82 two days ago but slightly down from its peak of 37.61 yesterday. This indicates that while buying pressure has surged recently, it has moderated somewhat over the past day. Conversely, the negative directional indicator (-DI) has plummeted to 10.86 from 22.48, reflecting a substantial decline in selling pressure.

The combination of a robust ADX and a high DI compared to a decreasing -DI implies that buyers are dominating the market at present. If this trend persists, Bitcoin may sustain its upward trajectory in the near term.

The Ichimoku Cloud on Bitcoin’s chart is displaying clear bullish signals. The price is well above the Kumo (cloud), indicating strong upward momentum. The cloud itself has transitioned from red to green, signaling a shift from bearish to bullish sentiment. The Tenkan-sen (blue line) remains above the Kijun-sen (red line), reinforcing the short-term bullish bias. The widening gap between them signifies strengthening momentum. Additionally, the future cloud (Senkou Span A and B) is sloping upward, suggesting that the bullish trend could endure if existing conditions prevail.

Furthermore, the Chikou Span (green lagging line) is positioned above the price candles and the cloud, validating trend alignment from a lagging viewpoint. Collectively, these factors point to a healthy uptrend, with no immediate indications of reversal unless there is a substantial breakdown beneath the Tenkan-sen or the cloud.

Bitcoin’s EMA lines are bullish, with shorter-term averages positioned above the longer-term ones, indicating strong upward momentum.

Bitcoin’s price is nearing a crucial resistance level at $92,920. A breakout beyond this range could create opportunities for additional gains. If buying pressure escalates, a possible target of $96,484 might be achieved, given the largest net inflows into Bitcoin ETFs in three months.

The current configuration suggests that buyers remain in charge, provided support levels are upheld and upward momentum continues.

Tracy Jin, COO of crypto exchange MEXC, noted that Bitcoin’s recent performance is restoring its status as \"digital gold.\"

Nevertheless, should the trend lose vigor and reverse occur, Bitcoin could experience a temporary retreat towards the support level at $88,800. A breakdown below this threshold would undermine the structure and heighten the likelihood of deeper corrections. Key areas to monitor next include $86,532 and $83,133.

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