Bitcoin Watch: A Daily Close Above This Key Level Could Push BTC Toward $94,000

Bitcoin (BTC) has staged a notable 21% recovery over the thirty-day timeframe, pushing the largest cryptocurrency in the market above the $81,000 level for the first time since January. Now, BTC is approaching one key resistance, which—if surpassed with a daily close—could open the door to another leg higher.

Technical analyst Ali Martinez pointed to this momentum in a recent post on X (formerly Twitter), arguing that Bitcoin continues to show “structural strength.” 

Martinez referenced a bullish Moving Average Convergence Divergence (MACD) crossover on Bitcoin’s weekly chart that occurred on April 13. Since that weekly signal appeared, BTC has gained roughly 15% in a relatively steady grind, reinforcing the idea that the trend may be shifting rather than just bouncing randomly.

What makes the weekly Bitcoin MACD crossover particularly notable is how it has behaved historically. According to Martinez’s recap of earlier instances, the same kind of crossover preceded major multi-month rallies in prior cycles. 

The October 23, 2023 crossover was followed by a 147% rally. Another example on October 14, 2024 led to a 75% rise, while the May 5, 2025 crossover resulted in a 35% rally. 

Even with the broader bullish backdrop, the near-term chart still presents a key test. Martinez highlighted that Bitcoin is moving into the vicinity of the 200-day simple moving average (200SMA), currently around $83,000. 

He described this area as the most important psychological and structural barrier on the daily chart. In his view, a clean daily close above this level could open the door to a macro expansion, first toward $89,000, with a secondary target near $94,000.

Adding to the technical picture, market expert Sam Daodu also flagged a separate indicator involving Bitcoin’s Bull Market Support Band (currently at $79,000), which is built from the 20-week simple moving average (SMA) and the 21-week exponential moving average (EMA). 

Daodu noted that whenever Bitcoin reclaimed this band after spending an extended period below it, the market tended to follow with strong rallies—often reaching 50% or more within a few months. 

Applying that pattern, the bullish path Daodu implied could take BTC toward approximately $121,000, which would still sit just below the all-time high region around $126,000 reached in October of last year. 

Still, even with bullish signals lining up, the situation is not considered settled. The reports emphasize that Bitcoin needs to reclaim and hold above these levels to maintain the momentum. 

It remains uncertain whether Bitcoin can continue pressing into resistance successfully, or whether the latest surge above $81,000 could be followed by another correction.

Featured image created with OpenArt, chart from TradingView.com