According to CoinJournal, BTC rebounded by over 11% from its low of $74,400 on April 7th and is now approaching $84,000.
Famous technical analyst John Bollinger discovered a potential W-shaped reversal pattern on the weekly chart. This pattern shows two distinct troughs: around $76,600 in March and $74,400 in April. The lower Bollinger Band is located at $77,138, providing key support for the price.
Analysts suggest that if BTC breaks through the $90,000 resistance level with high trading volume, it will confirm the W-bottom formation, with a potential target price of $106,000. On-chain data indicates that selling pressure is weakening as realized losses decrease.




