Bitcoin continues to trade above $106,000, boosting market confidence as California advances a bill allowing Bitcoin payments, according to Benzinga. On-chain metrics show growing momentum. Large transaction volume is up 72.1%, and daily active addresses rose 12.1%. Transactions over $100,000 jumped to 11,499 in a single day. The crypto market is regaining confidence amid positive U.S. sentiment, highlighted by California's passage of a Bitcoin payment bill. Crypto trader CRG warns that Bitcoin is struggling to reclaim its previous range, indicating a possible pause or pullback in momentum. Stockmoney Lizards and The Cryptomist remain bullish, citing support bounces and wedge patterns that point to a potential breakout toward $118,000 to $120,000. For a more convincing bullish scenario, the current move must develop into a diagonal pattern or show a clear five-wave impulse upward, a key signal of a sustainable trend reversal.
