Bitcoin just had an impressive rebound, reclaiming the $107,000 area – a milestone that the market has struggled with for several weeks.
The first feeling when looking at the chart is... something is really changing direction.
The price structure is starting to tilt towards the buying side, and the resistance area $107,200 – once a major barrier – has now become a gauge of the overall market sentiment.
If BTC can firmly close candles above this area, a run to $115,000 is no longer an unrealistic scenario.
What catches my attention more is the on-chain data. While the retail community remains worried, the large wallet group – holding over 10,000 BTC – is quietly accumulating. In just over 2 weeks, they have added about 36,000 BTC.
For me, this is not random action. It is a sign of long-term confidence – the kind of confidence that only appears when institutions know they are buying 'value', not 'the story'.
From a technical perspective, the zones of $104,700 and $102,900 are becoming important defensive cushions.
Losing them would break the entire upward structure. But if they can be held, this will be a perfect base area for BTC to bounce up, re-testing the peak area of $115,000. I see this phase as similar to when the market is holding its breath – before choosing a new direction.
Personally, I still lean towards the bullish scenario. Not because of FOMO, but because of how the flow of money is shifting. When the big players quietly buy in while bad news is flooding in, that is often when the 'sharks' are building a foundation, while the crowd is still hesitant to jump into the water.
If BTC continues to hold above $107,000 for a few more days, I think the next wave will not only stop at $115,000 – but could open up a deeper, stronger, and more surprising recovery cycle than many think.
#BTC
