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Market Analysis – December 16
BTCUSD remains under pressure as bearish forces retain control. BTCUSD is still operating within a negative technical backdrop, with price action capped beneath the downward-sloping 9-day and 21-day moving averages around $89,900 and $90,200. This configuration signals persistent distribution and a lack of sustained buying interest following recent recovery attempts. Momentum conditions remain unfavorable, as the MACD continues to track below its equilibrium level, underscoring the dominance of sellers across the broader structure.
From a structural viewpoint, the market has maintained a clear pattern of declining swing highs and lows, affirming the continuation of the prevailing downtrend. The inability to regain the former support area near $90,500 has reinforced this zone as an overhead supply barrier, repeatedly limiting upside progress. The current sideways movement above $85,900 reflects consolidation within weakness rather than meaningful accumulation, with the rising wedge formation highlighting elevated downside risk.
Looking forward, a clean breakdown beneath the $85,900–$85,000 area would likely open the door for accelerated losses toward the next significant demand zone around $74,400. Should selling pressure persist, the broader support region near $66,800 could come into focus over the medium term. In this context, the broader technical bias remains skewed lower, with rebound attempts expected to encounter resistance ahead of the $90,000 threshold.
BTCUSD Short-Term Trend: Bearish
BTCUSD is trading below the rising trendline and key moving averages, confirming bearish control on the four-hour chart. Price has broken below the $85,000 support zone, signaling weakness and a potential continuation lower. The moving average crossover is bearish, and momentum remains tilted to the downside. The MACD stays below the signal line, suggesting sellers may target deeper liquidity zones if support fails to hold, aligning with prevailing crypto signals.
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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