BTC 4-hour chart in a stalemate: Bulls and bears are locked in a tug-of-war, keep a close eye on these key price levels

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[Crypto World] Recently, I’ve been watching BTC’s 4-hour chart—it’s pretty interesting.

From the trend, the price has indeed pulled up quite a bit compared to the move at 4 PM on December 5, but it’s fallen back again relative to the high at noon on the 4th—a classic bearish engulfing pattern. However, the last bullish candle closed fairly healthy, with the closing price above the opening price, indicating that the bulls haven’t completely given up.

Trading volume is a bit awkward; it’s clearly shrinking in the past few hours. Both price and volume are trending down, making the market a bit quiet. Although the MACD histogram is still below the zero line, the negative value is narrowing—are the bulls secretly gaining strength? KDJ has already dropped to the oversold area near 14, with no obvious golden cross or death cross signals, so it’s still bottoming out for now.

As for moving averages, the 10-day MA is running above the 30-day MA (confirmed at 8 PM on December 5 and midnight on the 6th), but the overall trend is still bearish, and the divergence between volume and price is a signal to watch out for.

A few key levels to highlight:

  • Support at 89444; if it breaks, that’s dangerous
  • Resistance at 94606; only a breakout brings hope
  • Recent high at 93543, low at 84677
  • Aggressive longs can consider setting up around 85203/85002, with stop-loss at 84254
  • Short positions can target the 94606/94113 range, with stop-loss at 94010

The current market is a bit tangled, with neither bulls nor bears holding a clear advantage. It’s best to wait for a clear signal before making a move.

BTC-0.16%
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DuskSurfervip
· 3h ago
Volume is shrinking + divergence, this wave still depends on whether the bottom can hold. --- Are the bulls secretly making a move? Ha, let's wait and see. --- How many times has the bearish engulfing pattern appeared? Every time, people say a reversal is coming... --- Grinding at the bottom, grinding at the bottom—when will we finally see something come out of it? --- KDJ oversold doesn’t really matter here; the key is whether the volume keeps up. --- Is it healthy just because the close is above the open? That standard is a bit too low. --- The market is so quiet, you need to be extra careful with short-term trades. --- The moving averages are still in a downtrend; talking about a reversal seems a bit premature. --- If the support level can't hold, no matter how good the technicals look, it's all for nothing.
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LiquidationHuntervip
· 15h ago
The divergence between volume and price is really exhausting, need to hold the 8 level and not break it. --- Are the bulls really making moves in secret? It still looks pretty deserted to me... --- I've seen way too many fake rebounds on oversold signals, better stay cautious. --- The bearish engulfing looks pretty fierce, but that bullish candle is a bit heartbreaking. --- The market is eerily quiet—are we building up strength or is there really no one left? --- The 10-day moving average is still above, don't be too pessimistic, just let it grind out the bottom. --- KDJ dropping to 14 is wild. I've wanted to bottom fish for a while but just don't dare to move. --- The narrowing negative MACD is a signal, but I still don't trust it. --- There's a big gap between the high on the 4th and the current position—is this just a correction or a real trend reversal? --- With volume this weak, bulls really haven't stepped up—keep waiting.
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LeverageAddictvip
· 15h ago
You really need to keep a close eye on the shrinking volume; either someone is accumulating or no one's playing anymore. This crappy market is just exhausting. The bulls haven't given up, but they're lacking energy too. KDJ is already oversold, yet it's still grinding at the bottom. Feels like we still have to wait. Volume-price divergence is the most annoying. What does it even mean? Confused face. You only know the real support after it breaks; talking about support now is just nonsense.
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LightningAllInHerovip
· 15h ago
Be careful with the divergence between volume and price. It feels like the bulls are preparing for a big move. It all depends on whether those key levels can hold.
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LayerZeroHerovip
· 15h ago
I've seen the pattern of shrinking volume and falling prices too many times; what really worries me is a sudden surge in volume during a rebound—that's when it's truly dangerous.
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MoonRocketTeamvip
· 15h ago
With such a contraction in trading volume, it's pointless for the bulls to make a stealthy push. We have to wait for the market to recover first.
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