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Bitcoin’s technicals have shifted, as the 12-hour chart reveals a rare convergence of three bullish indicators.
Market analyst Ali Martinez has pointed to a synchronized buy signal from the Tom DeMark Sequential indicator, a bullish divergence in the Relative Strength Index (RSI), and a SuperTrend flip. These signals suggest that momentum could shift, catalyzing an immediate move toward $65,400, aligning with key resistance levels identified in the TD setup.
This technical optimism is reinforced by recent price action, which has stayed close to the desired path for an upward continuation. Market analysts are now looking for a shallow retest of current levels before an attempt to capture liquidity residing above the $67,000 to $68,000 range.
At the time of writing, Bitcoin is trading at approximately $64,573, reflecting a 4.28% gain over the past 24 hours, modestly outperforming a largely stagnant broader market.
The primary driver behind this resurgence is a tangible rebound in institutional appetite. U.S. spot Bitcoin exchange-traded funds recorded a net inflow of $265.7 million on July 6, the largest single-day injection since early May.
 
This renewed demand, coupled with a cascade of short liquidations and a supportive macroeconomic environment fueled by softer-than-expected U.S. jobs data, has injected buy-side pressure into the market. This movement highlights Bitcoin’s current sensitivity to macro factors, as evidenced by its 80% correlation with the S&P 500.
Looking ahead, the road to a sustained recovery remains conditional. If Bitcoin can successfully break and consolidate above the critical $65,000 to $67,000 resistance zone, the path may open for a push toward $72,000.
However, traders are cautioned that a failure to maintain momentum at these highs could easily trigger a retest of support near $61,000. As institutional flows and macro sentiment continue to dictate the near-term trajectory, the market’s ability to sustain this spot volume will be the ultimate test for the bulls.