‎BITCOIN Bearish Momentum Deepens Despite Oversold Signals

‎BTCUSD Market Analysis- December 2

Bitcoin continues to struggle under persistent selling pressure as the market maintains a dominant bearish structure across major timeframes.

‎BITCOIN (BTCUSD) Key Levels

‎Support Levels: $91,100.00, $74,600.00
‎Resistance Levels: $105,700.00, $126,500.00‎

‎BTCUSD Long-Term Trend: Bearish

Bitcoin remains under heavy bearish pressure as sellers dominate the market, even though early signals hint at a possible bullish shift. After testing the $126,500 supply level, buyers quickly lost momentum, allowing price to continue lower and stay within a clear bearish channel.

Furthermore, sustained selling pressure pushed price below the $91,100 demand level, followed by a clean retest that confirmed another bearish continuation wave. Although the daily RSI shows oversold conditions—often a zone where bullish reactions appear—current price action still offers no convincing signs of recovery.

Additionally, the daily Moving Average strengthens the bearish outlook, as price trades firmly below it. While minor bullish attempts may be forming, a meaningful reversal remains unlikely until price breaks the existing bearish structure with strength and commitment.

‎BTCUSD Medium-Term Trend: Bearish

‎On the 4-hour timeframe, the rejection of the $91,100 level and the formation of a failed-low structure confirm continued bearish control. Price has also fallen below the 4-hour Moving Average, creating an additional bearish signal.
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‎In the near term, Bitcoin is expected to extend its decline toward the daily trendline support. Traders should remain cautious, as there is a notable possibility that price could pierce this support and move toward the $74,600 region before any significant bullish interest returns.

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