"The bitcoin price stumbled into December with fresh volatility, plunging 8% early Monday to the mid-$84,000s before clawing back toward $85,456 at the time of writing. The world's largest digital asset is now teetering at a key $85,000 level - a price band analysts say could determine whether the bitcoin price stabilizes or slides toward a deeper test of $75,000 in the weeks ahead."
"Bitcoin price closed the week and month at $90,385, showing a brief green weekly candle, but bears quickly regained control, pushing the price down toward $87,000. The close remains below key resistance at $91,400, leaving bulls with an uphill battle. Initial resistance tests at $91,400 and $93,000 failed, with stronger resistance expected between $98,000 and $103,000 if bulls regain momentum, according to Bitcoin Magazine analysts."
"Although the bitcoin price remains above the 21-month EMA, the close confirmed a bearish MACD cross, signaling sustained subdued momentum over the next two to three months. This aligns with expectations of a potential top in the four-year cycle. In the short term, the bitcoin price may trade in a range as bears consolidate, while bulls attempt to reclaim $91,400 and $94,000."
Bitcoin fell about 8% early in December to the mid-$84,000s before partially recovering to around $85,456, placing the market at a critical $85,000 support band. The recent pullback extends a two-month downtrend that has erased over 30% from October highs, with 24-hour trading between $91,866 and $83,800 amid thin liquidity and forced liquidations. Weekly and monthly closes show bearish pressure below resistance near $91,400, while failed resistance tests suggest stronger caps at $98,000–$103,000 if bulls return. Key supports are $84,000, then $75,000, with deeper floors at $72,000–$69,000 and $57,700. Technicals show a bearish MACD cross despite being above the 21-month EMA, indicating subdued momentum for the next two to three months and a possible four-year cycle top. Short-term range trading is likely as bears consolidate and bulls try to reclaim $91,400 and $94,000.
Read at Bitcoin Magazine
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