$BTC We’ve moved about 15% off the lows in just 7 days without forming any meaningful higher low, and now we’re approaching the first key resistance area on declining volume.

In strong downtrends, the first attempt at reclaiming a major level is usually rejected. Price often pulls back to retest demand, and if LTF structure is bullish, that’s when a proper reversal can form.
If, however, we were to break through this level on the first attempt, the move would likely extend toward the next major confluence zone.
So you have to weigh the pros and cons: is it more realistic to expect a straight move from 80K to 96K without a retracement, or something like 80K > 92K > 88K > 96K?
I’m leaning toward a first attempt rejection so the market can refuel, especially since there are still many underwater sellers who may look to exit on this move, adding to potential sell pressure.
‍#DecemberRateCutForecast #CryptoMarketRebounds #BitcoinPriceWatch