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Bitcoin (BTC<\/a>) price has rebounded by over 11% from the April. 7 low of $74,400, and analysts believe that onchain and technical indicators point to a sustained recovery.<\/p>\n According to popular analyst AlphaBTC, Bitcoin will see a sustained recovery if it holds above $81,500.<\/p>\n Bitcoin price reclaimed the $80,000<\/a> psychological level after retesting the “weekly open and filling in some of the inefficiency left by the Trump 90-day pause pump,” the analyst said<\/a> in an April 10 post.<\/p>\n “I really want to see it back above 81.5k soon, and we may see a bit more sustained upside as shorts get squeezed.”<\/p><\/blockquote>\n BTC\/USD four-hour chart. Source: <\/em>AlphaBTC<\/em><\/a><\/p>\n<\/figcaption><\/figure>\n Similar sentiments were shared by fellow analyst Rekt Capital, who said that Bitcoin needs to produce a weekly close above $80,500 to increase the chances of recovery.<\/p>\n “Bitcoin has recently lost the red Weekly level, just confirming BTC isn’t out of the woods yet,” Rekt Capital said<\/a> in an April Post on X. <\/p>\n “$BTC needs to stay above red until the Weekly Close for the price to reclaim this Weekly level as support.”<\/p><\/blockquote>\n BTC\/USD weekly chart. Source: Rekt Capital<\/em><\/p>\n<\/figcaption><\/figure>\n Bitcoin investors are approaching a degree of “near-term seller exhaustion,” as evidenced by the reduced magnitude of realized losses, according to onchain data from Glassnode. <\/p>\n Looking at the 6-hour rolling window for realized losses, the market intelligence firm found that the magnitude of losses realized during these drawdowns has started to decrease with each successive price leg lower.<\/p>\n “Bear markets are typically initiated by periods of heightened fear and substantial losses,” Glassnode said<\/a> in its latest Week On-chain report. <\/p>\n “This suggests a form of near-term seller-exhaustion may be starting to develop within this price range.”<\/p><\/blockquote>\n Bitcoin: 6-hour rolling losses. Source: Glassnode<\/em><\/p>\n<\/figcaption><\/figure>\n Related: <\/strong><\/em>Is Bitcoin price going to crash again?<\/strong><\/em><\/a><\/p>\n After hitting a five-month low of $74,400 on April 9, Bitcoin retested the lower boundary of the Bollinger Bands (BB) indicator, a line that has supported the price over the last five weeks, data from Cointelegraph Markets Pro<\/a> and TradingView<\/a> shows.<\/p>\n BTC\/USD weekly chart with Bollinger Bands. Source: <\/em>John Bollinger\/TradingView<\/em><\/a><\/p>\n<\/figcaption><\/figure>\n This is an encouraging sign from Bitcoin, according to the creator of the Bollinger Bands volatility indicator, John Bollinger. The Bollinger Bands indicator<\/a> uses standard deviation around a simple moving average to determine both likely price ranges and volatility.<\/p>\nBitcoin price recovery could be fueled by “seller exhaustion”<\/h2>\n
Bollinger Bands and W bottom hint at new price highs<\/h2>\n