- Bitcoin rebounds above $107K after dipping to $98K, signaling strong bullish momentum and holding firm above key EMAs.
- Market structure shows BTC preparing for a breakout as volume increases and it stays above the psychological $100K level.
- USD devaluation alters asset perception, with Bitcoin showing stronger global performance when measured against other currencies.
According to Rekt Capital, Bitcoin is demonstrating resilience in the face of recent market turbulence and the depreciation of the US dollar. As of this writing, Bitcoin is trading at $107,374, above the 50-day and 20-day EMAs. This recovery comes after a brief decline below the upper support. Interestingly, Bitcoin has returned to its previous two-day price level. The asset’s recovery from earlier lows around $98,000 suggests that it may have short-term positive strength.
Source: Rekt Capital
Moreover, data from Coinbase highlights a trading range between $98,000 and $114,000. Candlestick patterns reflect strong volatility. Green candles dominated early sessions, showing upward momentum. However, red candlesticks emerged mid-chart, signaling increased selling pressure. The current section displays alternating colors, indicating indecision in the market. Still, the positioning above EMAs shows a developing upward bias.
Trading Patterns Show Market Engagement
Volume patterns point to heightened activity during key support and resistance tests. Besides, a descending trendline reveals Bitcoin’s resistance path. Breaking through it may invite new bullish momentum. Bitcoin is firmly above $100,000 despite recent fluctuations. This suggests strong institutional and retail interest at current levels.
Additionally, Bitcoin has tested multiple support and resistance levels in quick succession. The market structure suggests preparation for a larger directional move. Technical indicators show that Bitcoin is navigating within established ranges, yet holding firm. This setup offers a base for a continued upside if volume supports it.
USD Devaluation Alters Market Perspective
AnalystDaan Crypto Trades emphasizes viewing Bitcoin through a currency lens. Denominating Bitcoin against weaker fiat currencies changes the outlook. The U.S. dollar’s recent devaluation, especially post-tariff tensions, has distorted asset performance perception. Consequently, while Bitcoin appears stable in USD, its relative value may differ globally.
Source: Daan Crypto Trades
Hence, analysts should compare risk assets across currencies for a clearer view. This USD weakness explains why stocks may seem strong, yet remain lower in real terms. Bitcoin’s performance, when adjusted, still shows relative strength despite volatile conditions.
