Analysis $BTC on December 5:

Timeframe 1D: BTC, despite reaching 104k, is still in a downtrend according to the daily timeframe. Typically, this phase is quite 50-50 as it is very easy to see a long red candle reversing. To break the downtrend on the daily timeframe, BTC would likely need to reach a price of 110k or higher in the next 2-3 days.

- Timeframe D4: BTC is currently forming a very nice D4 candle and creating a cup and handle pattern, turning the old peak of 99x into a strong support zone. There may be a correction towards the 100x region in the next D4 candle.

- Timeframe W1: I will still analyze this timeframe based on RSI. Currently, BTC is at the 102k mark with an RSI of 77.8, which is still quite low compared to the peak in March (88.3), so I still believe BTC has a lot of room to rise before completing the first peak of this uptrend.

=> Conclusion:

- BTC will continue to rise. The next target will be the 110-115k range, and then we'll see the indicators to make further assessments.

Please take note!!! #TrendingBinance #tradecoinhtx