Following a significant rally, Bitcoin (BTC) has seen a surge in buying activity, with taker buy volume on Binance increasing by $2.7 billion in just two hours. This uptick in aggressive buying aligns with a broader recovery trend, as analysts note the cryptocurrency has reclaimed critical support levels.
On Tuesday, Bitcoin's price rose above $72,000, prompting expectations of further gains, potentially reaching $90,000. Michael van de Poppe, founder of MN Capital, highlighted that maintaining support at $70,000 is essential for continuing this upward momentum. A close above $70,000 will confirm a breakout from a symmetrical triangle pattern, with subsequent resistance levels positioned at $76,000 and $80,000.
As the daily relative strength index (RSI) climbs from an oversold level of 15 to 56, bullish sentiment appears to be gaining traction. For Bitcoin to sustain its recovery, it must remain above $69,500 in the near term, ensuring that the current bullish structure holds.