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BTCUSD Market Analysis – December 5
Bitcoin (BTCUSD) continues to move through a mixed market environment, showing signs of short-term bullish recovery while still trading within a larger bearish structure.
BITCOIN (BTCUSD) Key Levels
Support Levels: $92,600.00, $80,100.00 Resistance Levels: $106,000.00, $116,800.00
BTCUSD Long-Term Trend: Bearish
Bitcoin shows early indications of a bullish recovery, but these movements have not yet confirmed a true bullish reversal, as the broader bearish structure remains intact. Although the current upward momentum suggests a possible shift, the move is best interpreted as a bullish retracement since no structural break has occurred.
The daily Moving Average currently signals a short-term bullish sentiment as price trades above the indicator, supported by an improving Relative Strength Index. This combination points to the likelihood of a deeper retracement, with price attempting to reclaim the $92,000 demand zone and move toward the $106,000 supply area.
However, unless the $106,000 supply level is clearly broken, the dominant bearish trend remains in control, suggesting the potential for further downside. A mild bullish recovery above the $92,600 demand zone is expected to continue as part of the ongoing retracement phase.
BTCUSD Medium-Term Trend: Bullish
On the 4-hour timeframe, Bitcoin maintains a clear bullish trend line, marked by a series of higher highs. Price recently bounced from the trend line support and is now advancing toward the trend line resistance.
The 4-hour Moving Average also provides a strong bullish indication as price continues to trade above it. Despite this upward structure, price is expected to reach the trend line resistance before potentially returning to its broader bearish continuation. Toward the end of the current market swing, traders may look for crypto signals to guide short-term decision-making.
Note: Learn2.trade is not a financial advisor. Do your research before investing your funds in any financial asset, product, or event. We are not responsible for your investment results.
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