Bitcoin (BTC) recovered the $84,000 level on the 29th, rebounding from its intraday low. While short-term technical indicators point upward, trading volume and large-order capital flows have yet to confirm a clear expansion of buying pressure. Assessing the further direction of this rebound requires examining supporting indicators alongside price.

Price... Rebound from intraday low, but short of the 7-day high

According to market data on the 29th, Bitcoin is trading around $84,319, up $819 (0.98%) from the previous day's daily close.

Bitcoin moved between $82,776 and $84,500 that day. It rebounded considerably from its intraday low but has yet to reach the recent 7-day high of $87,279.

Technical indicators... RSI at 61 shows 'buyer dominance,' moving averages and MACD also in a rising structure

The technical picture is relatively favorable. The 6-day relative strength index (RSI) was recorded at 61.18, indicating that buying momentum is dominant while remaining below the typically overbought zone.

Moving averages also show a short-term positive alignment. The 7-day, 25-day, and 99-day moving averages are arranged in an upward direction, and the MACD has maintained its rising structure since a golden cross eight trading days ago.

Bitcoin's price is also above the Supertrend baseline of $78,351. Judging by price trend alone, both a short-term rebound and a medium-term uptrend structure are being maintained simultaneously.

Trading volume and whale funds... 'Insufficient' support for the rise

However, trading participation intensity sent a different signal. The day's trading volume stood at approximately 6,712 BTC, only 0.45 times the recent 7-day average. The fact that trading volume did not expand alongside the rising price is a point to verify when judging the strength of this rebound.

Large-order capital flows also recorded a net outflow. On a large-order basis, 1,091 BTC flowed out net, representing -5.57%.

While price and technical trend point upward, the structure of trading volume and large-scale capital flows does not strongly support them. The recovery of the $84,000 level alone is not enough to conclude that buying pressure has expanded across the broader market; indicators remain to be confirmed.

Returns... Up over a month, correcting over a week

Returns by period also show diverging short-term and medium-term trends. Bitcoin is down 2.66% over the past 7 days but up 7.78% over the past 30 days. Within a monthly uptrend, a correction and price realignment have been underway over the past week.

Key checkpoint to watch... $83,500

The intraday checkpoint for the 29th is $83,500. With the price holding above the opening price of $83,500, whether trading volume and large-order capital flows also improve will be the variable determining the strength of the rebound.

Conversely, if selling pressure expands and the price falls back toward the intraday low of around $82,776, a weakening of short-term upward momentum must be confirmed. On the upside, the recent 7-day high of $87,279 serves as the reference point. Given the remaining distance from the current price, it is necessary to distinguish between price increases without accompanying volume and actual expansion of buying participation.

In short, on the 29th Bitcoin showed positive signals in price trend and momentum indicators, but cautious signals were simultaneously captured in trading volume and large-scale capital flows. Going forward, the increase in trading volume and a shift to net capital inflows, rather than price itself, are expected to be the key checkpoints.

[This article is an informational piece written based on the provided market and chart data. It does not guarantee the rise or fall of any specific cryptocurrency, nor does it recommend buying or selling. Technical indicators and prices can change quickly depending on market conditions, and responsibility for losses from investment lies with the investor. AI was used for some sentences and data compilation.]