Bullish reversal formed on Bitcoin’s daily chart!

Bitcoin is trading at $107K with a market cap of $2.12 trillion and a 24-hour trading volume of $27.75 billion. The digital asset has been trading in an intraday range of $105,030 to $107,219, showing moderate volatility while showing signs of recovery on multiple timeframes.

Bitcoin
From the daily chart, Bitcoin has rebounded significantly from its recent low of $98,240, recovering to over $106K after a sharp sell-off, accompanied by heavy volume. The subsequent formation of a bullish engulfing candlestick pattern suggests a possible continuation of the upward momentum. Support remains firm around $98,240, while resistance is close to $112K. Although buying volume remains cautious, the price structure suggests that bulls are gaining control.

On the 4-hour chart, Bitcoin is forming a classic V-shaped rebound from $98,240 to $107,277. The trend presents a healthy bullish structure defined by higher highs and lows and supported by increasing buying volume and decreasing selling pressure. The recent pullback to around $104,500 to $105,000 could serve as the best entry zone, as these are previous resistance-turned-support levels. If the structure remains intact, the price could continue to rise to $108K, with risk mitigation below $103K to prevent trend invalidation.

Bullish view:
All key moving averages are showing bullish signals on both short-term and long-term timeframes, along with successful bounces and higher lows formation, which suggests Bitcoin is poised to continue towards $112K. If volume supports a break above $108K, the upside momentum could accelerate, validating the broader uptrend and strengthening the bullish stance.