Bitcoin BTCUSDT – Bear Trend Grinding On Below 90k (2 December 2025)

Bitcoin is back under pressure today, trading around 87.3k after failing to build anything meaningful above the 90–92k zone. The market is behaving almost exactly as we framed it in the late‑November updates: the bounce into the upper EMA ribbon on the 2‑hour and 4‑hour charts was a relief rally inside a larger downtrend, not the start of a new bull leg. That “Fugazi” bounce has now unwound, with price slipping back through the 90k handle and sliding toward the same support area we were watching near 87–88k.​

Compared with last week, the most important change is not the level itself but the character of the move. On November 27, momentum was still hot on the way up, with Stoch RSI pinned over 90 on multiple intraday frames and money flow only just ticking positive. Now we see almost the opposite texture: moving averages are still stacked bearishly above price, DMI on the daily chart remains firmly negative, yet MACD histograms on 12‑hour and daily have turned positive and weekly Stoch RSI is crushed down into single digits. In plain language, the trend is still down, but the selloff is starting to look laboured rather than explosive.

Looking back at our previous calls, the directional side has held up well. We argued repeatedly that rallies into 92–96k were for selling, with the 87–88k band as a key magnet and potential intermediate floor. Price has visited that zone several times now and is trading slightly beneath the weekly MA‑90 we treated as the “last stand” in the November 25 report. Where we have been early is in the more aggressive downside path toward 70k; the market is choosing to respect each support shelf instead of capitulating in one move.​

For the next 24–48 hours, our analysis continues to favour caution on the long side. The 2‑hour chart is overbought again while still below every major EMA, a combination that tends to produce choppy drift lower rather than clean reversals. Any bounce into 88–90k looks more like an opportunity to tidy up shorts or initiate fresh risk with tight stops than a reason to chase upside. Only if daily price can reclaim the 50‑day EMA around the high‑90k region, backed by improving CMF and a clear DMI shift, would we start to treat this as a genuine bottoming attempt rather than just another step in a grinding bear cycle.

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