Bitcoin’s Leap: $107K Dream? 🚀💸

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Bitcoin (BTC) waltzed 5.81% higher on Tuesday, its most joyous dance since May 8. As the crescendo swelled, a bullish engulfing pattern emerged, heralding the first significant structural shift on the daily chart in the fourth quarter. Traders, now clutching their pearls, wonder if this is the start of a sustained recovery-or merely a fleeting flirtation with hope. 🤯

Whispers from the Market:

  • Bitcoin performed a bullish embrace with its strongest daily gain since May, signaling early trend expansion. A dance of optimism, if you will. 🕺

  • A daily close above $96,000 is required for full bullish confirmation. Or, as the market might say, “Prove you’re not just a passing fancy.”

  • Buy-side trading surged to its highest reading of the entire bull market as the Coinbase Premium flipped positive. A rare sight, like a unicorn in a stockroom. 🦄

Bitcoin’s Structure Improves, But Major Confirmation Lies Above $96,000

BTC’s rally on Tuesday established a clear higher high and higher low pattern, following Monday’s liquidity sweep below $84,000. It’s as if the sellers are finally taking a bow, their momentum fading like a bad joke. The breakout was supported by strong volume, signaling demand rather than a stop-loss hunt-driven move. 🕵️‍♂️

High-volume breakouts tend to produce cleaner follow-through because they reflect aggressive participation from directional buyers, not just passive market makers. A lesson in patience, perhaps? 🧠

A bullish break of structure (BOS) above $92,300 is now forming. A confirmed BOS would shift the short-term trend decisively upward, even if BTC momentarily revisits the fair value gap (FVG) between $90,000 and $88,000 while continuing to grind higher. Like a phoenix, but with more spreadsheets. 🦅

The daily chart still lacks full conviction until Bitcoin closes above $96,000. This level is critical because it represents a BOS on the higher time frame. Clearing it would confirm a complete shift in trend structure, not just a relief bounce. Or, as the skeptics say, “We’ll believe it when we see it.”

Once $96,000 is reclaimed on a daily closing basis, BTC’s immediate target zone expands toward $102,000-$107,000, where a large cluster of external liquidity remains. This range encompasses previous swing highs, unmitigated stop-loss pockets, and liquidity from breakout traders waiting above prior resistance levels. A magnet for the bold, or a trap for the naive. 🧭

In market structure terms, these areas can act like magnets; once a decisive breakout clears the final barrier, in this case, the $96,000 level. A fairy tale ending, perhaps? 🌟

Aggressive Buy-Side Flow and Improving Premium Support the Recovery

Data from CryptoQuant indicated that the market buy-to-sell ratio spiked to 1.17, the strongest reading since the cycle began in January 2023. Such aggressive buy-side dominance typically appears early in expansion phases when structural flows accelerate. A symphony of greed, if you will. 🎶

Meanwhile, the Coinbase Premium Index shifted to a positive value of +0.03 after weeks of US selling pressure. Positive premium readings historically signal renewed institutional investor demand. Binance spot and perpetual volumes are also rising in parallel, and the price gap between Binance and Coinbase has tightened, reflecting healthier global liquidity. A happy ending for the algorithmic gods. 🙏

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2025-12-03 22:37