Bitcoin briefly regained $72,000, raising the possibility of further gains to $90,000. On April 8 (local time), Cointelegraph reported that Bitcoin's price structure is tilting back toward bullishness as a buying imbalance becomes clearer in Binance futures markets.

Market analysts saw Bitcoin rebuilding an upward trend after it rose as much as 7 percent on the day and reclaimed $72,000. With macro conditions improving and buying interest flowing in, Bitcoin bulls are looking at $90,000 as the next target zone.

Technically, some interpreted the move as an upside breakout from a symmetric triangle pattern after Bitcoin broke above an upper trend line near $70,000. If it holds this area on a daily basis, the next resistance was presented at $76,000. After that, $80,000 was cited as a key resistance, and if it clears that level the pattern target is calculated at $90,000. That is about 25 percent above the current price.

MN Capital founder Michael van de Poppe (마이클 반 데 포페) said Bitcoin is creating a bullish structure as it breaks above the key level of $71,000. He said support at $70,000 must hold for the recovery to extend to $90,000, and that it needs to clear resistance at $80,000 before that.

It also regained a key support level. Bitcoin reclaimed the $68,000 area where the 200-week exponential moving average and the 50-day simple moving average overlap. In the short term, holding above $69,500 was presented as a condition for maintaining the uptrend. The daily relative strength index (RSI) also rose to 56 from 15, an oversold reading recorded in early February, showing buying momentum is returning.

Derivatives market flows are also read as a bullish signal. Binance taker buy volume rose by $2.7 billion within two hours of the announcement of a ceasefire agreement between the United States and Iran. The indicator shows how many aggressive market buy orders came in on Binance futures markets.

CryptoQuant analyst Darkfost said there was $1.2 billion and $1.5 billion in taker buy volume in derivatives markets in the two hours around the ceasefire announcement, for a total of $2.7 billion. This means buyers concentrated on orders that followed the price, not just an increase in transactions.

The same trend was also seen in net taker volume. The indicator shows the imbalance between aggressive buying and aggressive selling in derivatives markets. CryptoQuant analyst Amr Taha said Binance Bitcoin cumulative net taker volume rose to $1.02 billion, the highest level since March 17, and that aggressive buying in Bitcoin is rapidly returning.

Spot demand indicators also improved. The Coinbase premium index turned positive again after staying in negative territory for a long period. This is taken as a signal suggesting U.S. investor demand is recovering.

Against this backdrop, market attention is focused on two points. One is whether Bitcoin can hold support around $70,000. The other is whether it can break through resistance at $76,000 and $80,000 in order. If derivatives buying and the recovery in U.S. investor demand continue, the $90,000 outlook could gain support, but in the short term the market needs to first confirm defense of the key support level.

This is what you'd want to see. I mentioned earlier that a ceasefire would be a clear direction on the markets. It happened.#Bitcoin breaks through the crucial $71K level and builds a bullish structure. Oil is down and the Strait is open, which means that there's a mean… pic.twitter.com/yeTubMirqe