Bitcoin's price has surged past $87,000, breaking out of a week-long consolidation between $83,000 and $86,000. The cryptocurrency is now targeting the $90,000-$92,000 range, which previously served as a strong support zone. This bullish trend follows a recovery from the April 7 lows below $75,000. The breakout signals a renewed bullish momentum, supported by Bitcoin surpassing the 30-day exponential moving average of price highs. This range breakout, seen on hourly charts, invalidated the bearish trend, marking a shift in investor sentiment. The former support zone from early this year became critical as it had previously arrested price drops. The outlook remains positive for Bitcoin unless prices fall back to $85,000 by day’s end.

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