Technical analysis by melikatrader94 about Symbol BTC on 12/3/2025

Hi! The chart shows Bitcoin forming a clear double-bottom pattern, supported by bullish RSI divergence on the lower panel. This combination often signals exhaustion of downward momentum and a potential trend reversal. The price has rallied strongly from the second bottom and is now pressing directly into the neckline zone, which aligns with a broader descending trendline drawn from previous swing highs. This overlap creates a high-confluence resistance area. The current reaction here is critical: if price decisively breaks above the neckline and closes above the descending trendline, it would confirm the reversal structure and open the path toward the next major liquidity pocket around the 100k–104k region, marked on your chart as the target. This region matches previous consolidation and supply, making it a realistic upside magnet if breakout momentum is strong. However, without a confirmed breakout, the neckline remains a potential rejection level, and price could retest the mid-range or even revisit trendline support. Bulls need continuation volume above resistance to flip the zone into support. Overall, market structure has shifted from aggressive selling to a constructive bottoming phase. The key now is whether bulls can convert this pattern into a sustained trend reversal.