Bitcoin – Technical Outlook
Bitcoin, the world’s largest cryptocurrency by market capitalization, extended its decline on Monday as broader risk-off sentiment weighed on the market at the start of December.
BTC dropped sharply to an intraday low of $85,595, marking its fourth consecutive day of losses since November 27. It was last seen trading near $85,842, down 5.88% over the past 24 hours.
Technical Analysis
Bitcoin continues to show strong bearish momentum, with the broader structure favoring continuation toward 76,680 and 72,600.
A sustained break below this zone would expose deeper downside targets toward 66,400.
The market has been in a clear downtrend from 87,240, with bearish pressure intact as long as price trades below this pivot level.
A recovery requires a decisive move back above resistance zones, but the current trend strongly favors sellers.
Pivot Line: 87,240
Support: 76,680 · 72,600 · 66,400
Resistance: 95,440 · 100,800
Bitcoin, the world’s largest cryptocurrency by market capitalization, extended its decline on Monday as broader risk-off sentiment weighed on the market at the start of December.
BTC dropped sharply to an intraday low of $85,595, marking its fourth consecutive day of losses since November 27. It was last seen trading near $85,842, down 5.88% over the past 24 hours.
Technical Analysis
Bitcoin continues to show strong bearish momentum, with the broader structure favoring continuation toward 76,680 and 72,600.
A sustained break below this zone would expose deeper downside targets toward 66,400.
The market has been in a clear downtrend from 87,240, with bearish pressure intact as long as price trades below this pivot level.
A recovery requires a decisive move back above resistance zones, but the current trend strongly favors sellers.
Pivot Line: 87,240
Support: 76,680 · 72,600 · 66,400
Resistance: 95,440 · 100,800
Technical analyst focused on gold, indices, and forex.
Providing regular updates with structure, entry/exit clarity, and real-time outlooks.
More at: sroshmayi.com/
Providing regular updates with structure, entry/exit clarity, and real-time outlooks.
More at: sroshmayi.com/
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Technical analyst focused on gold, indices, and forex.
Providing regular updates with structure, entry/exit clarity, and real-time outlooks.
More at: sroshmayi.com/
Providing regular updates with structure, entry/exit clarity, and real-time outlooks.
More at: sroshmayi.com/
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.