Bitcoin is exhibiting bullish momentum as it rebounds above $84,000, forming a bullish engulfing pattern on the daily chart. Key technical indicators, including the MACD crossing above and the CCI breaking previous highs, suggest stronger upward momentum. A close above $86,000 could propel Bitcoin towards the $96,000 mark. However, traders remain cautious as a bearish reversal is possible if support levels are breached twice. The current fear and greed index indicates moderate optimism in the market.