Bitcoin (BTCUSD) Turns Bullish Again, Time to Buy

Bitcoin (BTCUSD) Price Forecast: December 4

The Bitcoin market, the largest cryptocurrency, turned bullish again today, crossing the $90k supply level, struggling to recover from the recent market downturn. The coin continues to face buying pressure as the crypto market correction continues to reflect on the momentum. The coin price is edging closer to the overhead; therefore, sustainability above the $107k prior high level would render any intended bearish move invalid, reflecting vibrant engagement and market trends.

Key Levels:
Resistance Levels: $97k, $98k, $99k
Support Levels:    $83k, $82k, $81k

BTC (USD) Long-term Trend: Bullish (4H Chart)

Today, the BTCUSD pair exhibits bullish momentum as the market struggles to recover from the recent crypto market downturn in the long-term outlook. The price bar is above the EMA-50, heading towards the overhead resistance level.
Buyers are optimistic about reaching higher levels, which supports their significant market influence at present.

The buy investors moved and held the $92,340 supply value during the previous action, which greatly aided the cryptocurrency in maintaining its strength above the trend line at its most recent high.

The Bitcoin price crosses to the $93,003.65 supply level above the moving average as the 4-hourly chart commences today, influencing market trends with mixed performance across major cryptocurrencies, resulting in intraday gains.

However, the bullish sentiment could push it towards the previous high of $107k if recovery gains strength.

Furthermore, the technical indicator pointing upward implies that the BTCUSD market has more upside potential.

As a result, the upward correction may reach the upper resistance level of $110,000 in the coming days.

BTC (USD) Short-term Trend: Bullish (1H Chart)

The largest cryptocurrency (Bitcoin) crosses the moving average despite the selling traders’ action in the price flow.
The coin price is recovering from its recent lows above the supply levels, suggesting a bullish market. Thus, buyers are gradually gaining more strength in the market.

Its upward stability at its most recent high has been maintained by pressure from bulls at the $91,673.27 in the prior action.

Today, additional buying pressure has enabled the BTCUSD price to surge above the EMA-50 at $93,003.65 supply level as the 1-hourly chart opens, suggesting a notable increase.

However, there is a possibility of a further increase in Bitcoin price if buyers increase their buying pressure and the current support level is restricted; a psychological key level at the $110k supply level might be reached soon, as it crosses the $90k, aiming to rally higher.

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