- Bitcoin’s rebound within a Descending Broadening Wedge positions price near the $100K resistance.
- Strong demand at the wedge’s lower boundary supports a recovery toward the $93K–$94K barrier.
- Rate-cut expectations from major banks boost sentiment, with analysts eyeing a potential December rally.
Bitcoin is trading inside a Descending Broadening Wedge on the 4H chart, and the market is now watching the $100,000 level. The pattern shows expanding volatility, and buyers are trying to push prices higher after a sharp rebound from the lower boundary. At the time of writing, BTC was trading at $91,656.
BTC Trades Inside a Descending Broadening Wedge
According to analysis prepared by Captain Faibik, Bitcoin has moved inside a wide descending structure from mid-October to late November. The chart shows lower highs along the upper trendline, and it also shows steady lower lows along the base of the wedge. Prices dropped sharply during November’s third week, yet a strong rebound formed as BTC hit the lower boundary.
Trading activity then created higher lows, and this move formed a short recovery trend inside the structure. Buyers kept control through this phase, and the price moved toward the midpoint of the wedge. According to an observation by Ted Pillows, BTC has now broken above $89,000 and is moving toward the $93,000–$94,000 zone, and this area is the next technical barrier.
The structure shows strong demand near the lower boundary, and this demand supported the recent bounce. The price is now approaching the upper trendline, which aligns with the $100,000 resistance zone on the 4H chart.
Market Watches the $100,000 Resistance Level
Analysts note that the $100,000 area has created steady selling pressure in past sessions. Bulls need to reclaim this level to show strong momentum, because this point marked failed recovery attempts earlier in the pattern. If Bitcoin breaks above $100,000, the chart points to room for a solid bullish rally during December.
J.P. Morgan anticipates that the Federal Reserve will reduce the rates by 25 basis points in December. Michael Feroli said that recent comments from policymakers “tilt the odds toward the Committee deciding to cut rates.” Goldman Sachs also noted that a delayed jobs report supports another cut.
Market sentiment improved after this shift, and traders saw a short-term recovery. Bitcoin has risen above $90,000 this week and analysts believe that the recent bottom can already be settled
