Bitcoin Targets $86,000 After Key EMA Reclaim: Is The Next Rally Here?

A crypto market analyst has shared the key levels to watch as Bitcoin (BTC) confirms a key level as support for the first time in months, opening the door to a continuation of its April recovery rally.

Bitcoin EMA Reclaim Signals More Upside Potential

After closing the week above a crucial level, Bitcoin jumped 2.2% to break above the $80,000 resistance for the first time since January. The flagship crypto had been trading between $74,000 and $79,000 for the past few weeks, failing to reclaim the range’s upper boundary despite multiple attempts.

On Sunday, BTC closed above the $78,000 mark for the second consecutive week, confirming its 21-week Exponential Moving Average (EMA) as support. Previously, analyst Rekt Capital highlighted the 21-week and 50-week EMAs as two key levels for the cryptocurrency’s ongoing rally, explaining that these moving averages tend to act as support during bull markets and as strong resistance