Bitcoin’s strongest trading day since May cues possible rally to $107K
Cointelegraph
Bitcoin's 5.81% Tuesday gain, its largest since May, formed a bullish engulfing pattern suggesting a potential rally toward $107,000.Summary
Bitcoin experienced its strongest daily return since May 8th, gaining 5.81% on Tuesday, which formed a bullish engulfing pattern signaling a potential trend expansion. The rally established a higher high and higher low structure, overcoming prior resistance, though full bullish confirmation requires a daily close above the critical $96,000 level, which represents a break of structure on the higher time frame. Clearing $96,000 would expand BTC's immediate target zone toward $102,000–$107,000. Supporting this recovery is aggressive buy-side flow, indicated by the market buy-to-sell ratio spiking to 1.17, and the Coinbase Premium Index flipping positive, suggesting renewed institutional demand.
(Source：Cointelegraph)