Bitcoin has seen four consecutive weeks of decline, and Friday's U.S. stock market continued to drag down the cryptocurrency sector.
Until the New York Federal Reserve Chairman released dovish news [possible rate cuts in December], a massive buying spree in the U.S. stock market surged in, leading to significant price action in Bitcoin, gradually moving out of the downturn.
After experiencing a weekend rebound with reduced volume, market sentiment is gradually emerging from extreme panic, ushering in a minor upward rebound.
In the evening until tomorrow's pre-market, pay attention to the price performance around the rebound at 90,000. Especially noticeable is the current rebound with significantly reduced volume. Short sellers are closing positions, resulting in an oversold rebound on an hourly basis. If the rebound fails to test higher, continue to treat it with a bearish outlook.
Upper pressure: 88340/90850/92780
Lower support: 83600/82700/80600/
Over the weekend, following the market, there was a volume-reduced rebound, which is not strong in continuity; chasing the rebound is not recommended.
From the evening until tomorrow's pre-market, pay attention to the price performance of the rebound pullback around 2880. After facing pressure, it is highly likely to continue the volatile downward trend, to conduct a major-level second test, until the consolidation structure is built, there will be an opportunity to establish a bottom.
Before breaking out, it is still treated with a bearish volatile mindset.
At the 4H level above, only by standing above 3050, there is an opportunity to achieve a reversal from a small-level rebound, which is considered to be the bottom building for a large level.
Upper pressure: 2861/3940/3060
Lower support: 2705/2593/2528
The downward rebound is positive. The momentum for small-level bullish attacks is relatively strong.
The account is near the support and resistance level around 128, with a continuation of small-level rebounds. From the evening until tomorrow, pay attention to the price performance of the rebound around 133-135.
Only after breaking through, there is an opportunity to achieve a reversal at the hourly level, with bullish continuation.
Otherwise, following the market pressure, it is expected to see a volatile downward pullback around 120.
Upper pressure: 133.2/135.9/139.8
Lower support: 126/121.8/113.3
