Bitcoin continues to rebound after touching the chart zone described as the “box of despair,” a deep demand area between $76,000 and $86,000. The price bounced after sliding through several support bands in November and now trades near $91,500.
The chart shows a clear reaction from the same zone that formed the asset’s earlier yearly bottom. Bitcoin previously climbed from that zone and entered a long uptrend that stretched from April to July, lifting the asset toward the $128,000 to $132,000 region.
The chart presents a structure that began in March when the first green arrow marked a rebound from a major accumulation region. Bitcoin then moved into a rising green channel. It respected ascending support levels and formed steady higher highs into July. Several blue horizontal zones mapped precise support and resistance levels throughout this rise.
However, the trend changed when Bitcoin broke above $124,000 and then reversed. The chart shows a breakdown of the rising channel that created a descending red trendline. This pattern shaped a falling wedge with lower highs from $120,000, $116,000, and $108,000. The lower boundary pushed the digital asset toward deeper demand levels through late October and early November.
Bitcoin then fell below support near $104,000 and $100,000 and moved into the wide blue block marked as the “true bottom.” The second green arrow indicated the new reaction low. The structure mirrored the earlier move seen in spring.
Bitcoin then climbed back toward the $90,000 to $92,000 range. The chart shows the asset now pressing against the descending red trendline once more.
The market continues to watch movements near $91,500. Bitcoin recently recovered from last week’s slide to $80,000. The drop followed a larger crash from $126,000. Several experts warned that the asset could still dip toward $50,000. However, the recent rebound and current trend suggest that traders remain focused on short-term direction.
Now, attention turns to key price markers between $96,000 and $112,000. These levels formed the breakdown zones during the November fall. The chart shows that Bitcoin still trades below these resistance layers.
Traders also focus on whether the price can break above the wedge’s upper boundary. A breakout could open a path toward higher resistance. If the price fails, Bitcoin may retest the $84,000 to $88,000 band within the demand box.
Market participants continue to monitor institutional flows. Growing interest has shaped sentiment as traders look for signals ahead of December. Bitcoin’s historical performance during the month has shown positive returns, according to CoinGlass data.
November delivered a large decline, but the chart is gradually showing a stabilizing pattern. This pattern raises a pivotal question: Can Bitcoin maintain its rebound as December begins?
Traders also watch rate-cut expectations. These expectations shaped broader confidence in recent weeks. The lower price levels also attracted new buyers following the sharp decline.
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Bitcoin continues to recover from the deep demand zone as traders watch key resistance levels near $92K. The chart structure shows renewed momentum ahead of December, and market participants now track institutional interest for signals that may shape the next direction of BTC price action.