Author: Nancy Lubale
Compiled by: Deep Tide TechFlow
Deep Tide Guide: Bitcoin surged 5% on Tuesday, breaking through $76,000 to hit a 70-day high. Technically, BTC broke through the upper rail of the ascending triangle, with a quantitative target pointing to $89,050. On-chain data is strengthening simultaneously: daily transaction count surged 62%, reaching the highest level since November 2024—back when Bitcoin was at $120,000. Signs of a divergence repair between network activity and price are emerging, with multiple analysts believing a trend reversal is being confirmed.
Market analysts say that after Bitcoin (BTC) rose 5% on Tuesday to break through $76,000, it is showing "re-established bullish momentum," with bulls targeting $90,000, and on-chain network activity is also improving simultaneously.
Bitcoin Price Hits 70-Day High
TradingView data shows that BTC/USD rose over 5% on Tuesday, hitting an intraday high of $76,120, a level last seen on February 6th.
This rally has pushed Bitcoin back above several key support lines, including the convergence area of the 100-day Exponential Moving Average (EMA) and Simple Moving Average (SMA) near $75,000.
@CryptoBlockto tweeted: Bitcoin breaks $76,000, surpassing the March high, re-establishing bullish momentum. The next key resistance is at $76,000; a decisive break above would confirm a trend reversal and sustained upward momentum.
Caption: BTC/USD 4-hour chart, Source X/CryptoBlockto
From a technical pattern perspective, Bitcoin is validating a breakout of an ascending triangle—the price broke above the upper rail at $73,000 on Monday.
A daily close firmly above the moving average area at $75,000 would confirm the breakout's validity, with the next resistance being the psychological barrier of $80,000.
Beyond that, bulls could push the price towards the quantitative target of the ascending triangle at $89,050, representing a potential gain of approximately 18% from the current price.
Caption: BTC/USD daily chart, Source Cointelegraph/TradingView
The daily RSI (Relative Strength Index) has rebounded from the oversold level of 15 on February 6th to 63, indicating continuously strengthening bullish momentum.
@ImCryptOpus tweeted: Bitcoin is trading within the horizontal supply zone of the ascending triangle, with the 100-day MA also acting as resistance above the current price. A strong breakout above the pattern's upper rail and the 100-day MA would confirm the market's entry into a bullish trend.
As previously reported by Cointelegraph, a daily close above $76,000 would complete the bullish ascending triangle, opening the door for a push towards $84,000.
Bitcoin Transaction Activity Rises to 17-Month High
While the price strengthens, on-chain data is also cooperating. The daily number of Bitcoin transactions has grown 62% in 2026, reaching 765,130 on April 5th.
The last time this level was reached was in November 2024, when the US election frenzy pushed Bitcoin above $100,000 for the first time.
@CW8900 tweeted: BTC's daily transaction count is higher than when BTC was at $120,000. The network is showing bull market characteristics.
Caption: Bitcoin Daily Transaction Count, Source CryptoQuant
Bitcoin's total fee revenue is also rising, increasing 4% over the past week to $153,700. Glassnode stated in its latest Market Pulse report that this reflects increased on-chain demand:
"The rise in fees indicates a recovery in network activity, and users' willingness to pay for transaction priority is increasing."
Caption: Bitcoin Total Transaction Fees, Source Glassnode
The simultaneous growth in transaction count and fees indicates that more users are interacting with the network. Increased on-chain activity is often linked to market interest and participant confidence—this is particularly noteworthy when the price is at a relatively low level.
