$BTC December 3 market analysis - UTC 22:59, close time is approaching in an hour👇👇
🤑 First, let's look at the news posted by TedPillows on X: In the past 6 days, a whale has purchased BTC worth $226 million. Huge! It seems there are still big players quietly positioning themselves, which is both intriguing and somewhat reassuring.🤔
☕ Throughout the day, BTC has been fluctuating in the range of 91k to 94k, closing above 93k before the end. The RSI is around 49, slightly rebounding but still not in the strong zone, and the MACD histogram has turned green, indicating limited rebound strength. It has pulled back from the lower Bollinger band to above the middle band, which is a strong signal for a rebound, but the upper band is still pointing downwards, indicating that the overall trend has not reversed and can only be considered a strong rebound.
👀 Short-term focus: Key support is in the 90k-91k range, and if broken, it may retest the previous low. Resistance is at 94k-96k, and only a breakout with volume can open up space above. Contract positions have increased, and the long-short ratio is slightly bearish, continuing to push up may trigger a short squeeze, while a weak rebound may easily fall back again.
Note: The cryptocurrency market is highly volatile, and predictions do not guarantee accuracy. The above analysis is for reference only and does not constitute investment advice.
