BTC 1D update
2024-12-06

On Thursday, December 5, 2024, the market formed a substantial upthrust bar at the resistance level established on November 23. This upthrust bar exhibited significant volume, with a positive delta volume indicating that buying pressure slightly exceeded selling pressure. However, an upthrust bar, characterized by a wide range and high volume closing near the low, often signals potential price declines.  Therefore, a downward movement toward 86,702 is possible. However, the price may attempt to retest the sell zone and the upthrust level, potentially trapping early sellers. Caution is advised in this scenario.