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Looking at where Bitcoin currently stands, we need to identify the support and resistance levels.
On the support side, there are three levels. First is the short-term strong support at $93,000. If that breaks, the mid-term key support is at $87,000, which requires close attention. The last line of defense is at $80,000, which is essentially the bottom line.
Conversely, on the resistance side, the short-term resistance is around $97,000, which is the 61.8% Fibonacci retracement level. Yesterday's rally faced resistance here and pulled back. Going higher, there is a stronger resistance at $107,000. On December 1st, we failed to break through this level, so it has become a dense area of bearish pressure. To break through, a significant momentum is needed.