Bitcoin (BTC) Price Analysis: Insights from December 4
According to CoinStats, on December 4, most altcoins were showing upward momentum. 📈
---
Focusing on BTC/USD, Bitcoin saw a 0.55% price increase over the previous day. This analysis observed BTC setting local support at $91,827 on the hourly chart. 📊
---
A failure to bounce from this level could indicate a potential breakout downwards. Traders were eyeing a possible correction towards the $91,000 range if support didn't hold. 📉
---
On the longer timeframe, Bitcoin faced significant resistance at $93,753. The price had previously bounced off this level, suggesting it was a strong overhead barrier. 🧱
---
The key was the daily candle's close: if it closed significantly below this resistance, it would confirm the rejection. Further analysis would depend on this closing price. ⏳
