Bitcoin (BTC) Price Analysis April 12: BTC Resumes Uptrend, Targets $100K

Bitcoin (BTC) has risen above the moving average lines and the $95000 support level but is being held back by the 50-day SMA barrier.

Bitcoin (BTC) has broken above the moving average lines and the $95,000 support level, indicating a bullish trend. However, BTC faces resistance at the 50-day SMA.

If BTC breaks above the 50-day SMA, it could reach a high of $102,390. If it fails to break above the 50-day SMA, it will likely trade within the moving average lines.

If the bears break below the 21-day SMA, BTC could fall back to its previous range between $94,000 and below the moving average lines.

At the moment, BTC is attempting to break above the 50-day SMA, continuing its uptrend. The current price of BTC is $96,736.

According to Coinidol.com's analysis, BTC has recovered following its breakout from the moving average lines. Prior to the breakout, the crypto was initially trading within the moving average lines. If the 50-day SMA support holds, BTC will resume its uptrend. The price bars are above the moving average lines on the upside, indicating an uptrend.

Technical indicators

Key supply zones: $108,000, $109,000, $110,000

Key demand zones: $90,000, $80,000, $70,000

What's next for BTC?

Having entered the uptrend zone, BTC is continuing its uptrend. If the 50-day SMA support holds, BTC will resume its uptrend.

However, if the bulls fail to sustain their bullish momentum above the 50-day SMA, BTC will be trading within the moving average lines.

If the bears break below the 21-day SMA, BTC could fall back to its previous range between $94,000 and below the moving average lines.