#比特币对比代币化黄金 The Bitcoin trend on December 7 is quite interesting—there’s a sense of recovery within the fluctuations. A short-term rebound is possible, but don’t get too excited yet; the medium- and long-term bearish shadow hasn’t cleared.

Let’s look at the price. It hovered around $89,136 at the open, touched the $90,000 mark during the session, hit a 24-hour high of $90,273.97, and a low of $89,002. The key support zone right now is between $88,000 and $90,000. This area has been the launchpad for recent rebounds and is close to Bitcoin’s production cost line—if it doesn’t hold, there could be trouble. On the upside, $94,000 to $95,600 is a hurdle; only if Bitcoin can stay above that level could it have a chance to push toward $98,000 or even $100,000.

The daily chart signals aren’t too friendly. The moving average system has formed a death cross, long-term moving averages are turning downward, and the price is still below the 50-day and other long-term moving averages. The overall medium- to long-term structure remains bearish. But if you switch to the 2-hour chart, it’s a different story—consecutive green candles, and a bullish engulfing pattern has formed near key support, meaning short-term bulls have taken the initiative for now.

In terms of technical indicators, the 2-hour MACD shows there’s still some room for a rebound, but the bearish pressure on the daily timeframe hasn’t been fully released. Perpetual contract funding rates are in the negative, indicating a generally bearish market sentiment. The 30-day implied volatility index is at a relatively high level, so volatility risk for the day shouldn’t be underestimated. The fear and greed index, though rebounding from its lows, is still hovering in a low range, suggesting investors remain skeptical about how far this rebound can go. $BTC