On December 5, 2025, Bitcoin is in a state of high volatility and consolidation, with bulls and bears vying for key ranges. The technical indicators show characteristics of a directional decision, with specific analysis as follows:

1. Price and Trend Performance: In the early hours of the day, Bitcoin was impacted by the U.S. initial jobless claims data, dropping to a low of 90842 before quickly rebounding. During the day, it stabilized above 92000, oscillating around the 92000 - 93000 range, and briefly rose to around 92300, with the intraday decline narrowing to about 1.2%. On the daily level, the price rebounded off a support platform formed by the 5-day and 10-day moving averages, with the low point nearing the 0.382 retracement level of the previous rebound trend line, validating the effectiveness of the support.

2. Key Support and Resistance: In terms of resistance, the primary resistance is in the 92800 - 93000 range, with core resistance at 94000 USD. Higher resistance is found in the 93000 - 95000 USD range, where a key liquidity cluster exists around 9500 USD, presenting strong resistance. On the support side, the 91000 - 90800 range is a strong support area, while stronger support is located at 88000 - 89000 USD. If lost, the price may drop to 85000 USD or even 76000 USD.

3. Technical Indicators and Patterns: On the 4-hour chart, the RSI shows initial signs of weakness, and the stochastic RSI suggests reversal risks. The MACD is in a critical state between bulls and bears, and we need to wait for the closing confirmation to see if a death cross forms. On the daily level, the MACD trend is upward, but the price has not touched the upper Bollinger Band; although the candlestick shows a bullish engulfing pattern indicating short-term rebound potential, the moving average system is tangled, and the price is below the moving averages, resulting in unclear trend signals, overall in a state of bullish and bearish struggle and consolidation. #比特币VS代币化黄金