📊 Latest market situation of Bitcoin #BTC on December 2nd at noon

As of December 2 at 11:42, the price of Bitcoin (BTC) is reported at $86,618, with the market in a weak rebound phase following a sharp decline. After plummeting to around $83,800 during the night of December 1, the price has currently slightly rebounded to the $86,600 range, but the overall technical structure remains weak.
Core Long and Short Game Points:
• Bearish factors: Technically, the price has fallen below all major moving average supports, the moving average system on the 4-hour chart shows a bearish arrangement, and the MACD is below the zero line, indicating that the short-term downward momentum has not yet exhausted. There is a dense area of trapped positions in the range of $88,000-$90,000 above, and a breakout requires a significant increase in trading volume.
• Positive Signal: On-chain data shows that whale addresses (holding over 10,000 BTC) have significantly increased their holdings in the $86,000-$88,000 range, while the RSI has entered the oversold territory (reading 31), indicating a potential technical rebound in the short term.
• Key Direction Determination: If the price can break through the resistance zone of $88,200-$89,000 with significant volume, it may trigger a short covering rally; conversely, if it effectively breaks below the support range of $85,000-$86,000, it may further test the $83,000-$80,000 range.
⚠️ Comprehensive Risk Warning
1. Key level verification: The support at $85,000-$85,500 is the lifeline for bulls and bears in the short term. If it breaks down with volume, it may test the range of $80,600-$81,500; a breakout above $88,000-$88,500 requires volume support.
2. Macroeconomic Event Risk: The decision from the Federal Reserve's monetary policy meeting in December (expected around December 10) is a key variable that may trigger significant market fluctuations.
3. On-chain monitoring: It is necessary to closely observe the net inflow volume of the exchange (a sudden increase indicates selling pressure) and the movements of whale addresses.
The market has risks, and investment should be cautious. The above analysis is based on public data and technical indicators, and does not constitute investment advice. $BTC