$90,000: Analyst Predicts New ATH Still in April ↑

Amidst the bearish pressure experienced in the price of Bitcoin, a well-known crypto analyst and trader, Captain Faibik, has identified the potential for a significant rebound that could lead BTC to an unprecedented level before the end of April. Currently, Bitcoin is showing downward pressure on lower timeframes. Despite the adverse price action, Captain Faibik remains confident that there will be an increase in the price of BTC this month.

Captain Faibik's analysis emphasizes Bitcoin's bullish pennant formation on the 12-hour timeframe chart. According to the crypto expert, an upward breakout is expected later this week. If a successful breakout occurs, as anticipated by the expert, Bitcoin could be on the verge of reaching a new all-time high. As a result, Captain Faibik has set his price target for this month at around $88,000 and $90,000.

$BTC Bullish pennant formation on the 12hrs timeframe Chart.

Expecting upside Breakout later this Week. ✍️

In Case of Successful Breakout, Bitcoin might hit the 88-90k this month.#Crypto #Bitcoin #BTC pic.twitter.com/TLsujGNSYj

— Captain Faibik (@CryptoFaibik) April 2, 2024

The expert has also confirmed that the bullish pennant has developed on the daily timeframe chart. Therefore, the analyst is optimistic that the breakout will occur soon. The analyst has also identified some buying pressure on lower timeframes, triggering momentum for the crypto asset.

"BTC bulls are defending the 4-hour Exponential Moving Average (EMA) 200 around $65,600, and the bullish pennant is also in play", he stated. However, for the Bitcoin bulls to regain momentum, they must reclaim the critical resistance level of $70,000. This suggests that the bulls still have more work to do to reach the resistance level.