The Curious Case of Bitcoin: Bounce or Belly Flop? Find Out! 🚀🐱

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Oh, blimey! Bitcoin’s had a bit of a tumble, slipped and slid like a greased pig at the county fair-weeks of selling, and then, quite suddenly, a flicker of hope! It leapt from the dreary dusk of $80K, whooshed above $90K, and made everyone believe maybe, just maybe, the market isn’t entirely made of wet cardboard. But hold your horses! This could just be a dead-cat bounce-the kind that’s all puffed up with false promises and a desperate belly-flop.

By Shayan (or the brave soul who tries to make sense of magic coins).

The Daily Dance

On the daily chart, Bitcoin’s clawing back into the green, the little rascal! It’s tiptoeing through the $89,000 to $93,000 zone, like a cat burglar sneaking past the stodgy old guard of resistance at $116K. The big, bossy 100-day and 200-day moving averages are lurking overhead around $108K-like a pair of grumpy old gatekeepers. Until those resistance bouncers turn friendly support, this dance remains more of a stumble than a waltz.

The Four-Hour Frolic

On the four-hour chart, our cheeky Bitcoin is just about to break free from its gloomy trendline. It’s created a higher low around $83K-probably after weeks of sulking. Now it’s testing the $93K barrier, and if it slaps that down without fuss, it might skip off to $103K. But beware! A rejection here could see it waddling back down to $88K or worse, tumbling below $80K and going into a grumpy tailspin.

On-Chain Sherlocking

Reserves on the Run

Meanwhile, the blockchain detectives have spotted something quite tasty-Bitcoin reserves on exchanges have plummeted to their lowest in ages! Think of it like all the coins headed into a giant safe and locked away for the long haul-possibly by clever investors who have more patience than a three-year-old in a candy store.

This dwindling supply hints that the big-money folks are preparing for a rally, not a crash, whispering that the supply is tightening, even as the market bobbles about like a boat in choppy seas.

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2025-12-03 18:24