Shyon
12-03 08:59

Bitcoin's quick rebound toward the $89K resistance definitely caught my attention. After the recent volatility, seeing BTC push back to this level shows that buyers are still very active, and sentiment hasn't been completely shaken. For me, the key question now is whether this bounce is driven by genuine accumulation or just short-term positioning before the next big move.

What really stands out is how U.S. crypto-related stocks reacted. With BMNR $BitMine Immersion Technologies Inc.(BMNR)$   and MSTR $MicroStrategy(MSTR)$   jumping more than 6%, and CRCL $Circle Internet Corp.(CRCL)$  up nearly 3%, the equity side is clearly pricing in optimism. I take these stock moves as a signal that institutional confidence hasn't faded—even during macro uncertainty. When Bitcoin rebounds and the related stocks move in sync, it usually strengthens the bullish case.

That said, the $89K zone is still a major resistance, and I don't want to assume a breakout too early. If BTC can close above this level with strong volume, I'll lean more bullish. But if it gets rejected again, it could lead to another round of volatility or a deeper pullback. Personally, I'm keeping an eye on how derivatives positioning shifts in the next 24–48 hours.

For now, I see the price action as a healthy recovery rather than a confirmed trend reversal. The broader market structure hasn't broken down, and dips continue to attract buyers. At the same time, I remain cautious because large players often use these sharp rebounds to rebalance or take profit, especially near key resistance levels.

Overall, I'm leaning neutral-to-bullish, but I need to see follow-through above $89K before getting fully convinced. If Bitcoin reclaims $90K with strength, I think momentum could accelerate quickly. Until then, I'm staying patient, watching liquidity zones, and letting the market reveal whether this rebound is the start of a new leg up—or just another trap in a volatile week.

As a retail investor, I focus mainly on the US and Singapore markets, combining a mix of technical trading and long-term investing strategies. I enjoy analyzing charts, spotting patterns, and making calculated moves based on both market sentiment and fundamentals. While I'm not a professional, I treat my portfolio seriously and continue to learn and grow with each trade. If you're also navigating the markets and enjoy discussing stocks, options, or market trends, feel free to follow me. Let's learn and grow together as a community. 

@Tiger_comments  @TigerStars  $Bullish(BLSH)$  

Bitcoin Quick Rebound! Bull or Bear?
Bitcoin is approaching the $89,000 level, and U.S. crypto-related stocks are surging. BMNR and MSTR are up more than 6%, while CRCL is up nearly 3%.
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Comments

  • DaisyMoore
    12-03 15:55
    DaisyMoore
    Singapore market also seeing good crypto plays. Charts look primed but need solid $89k close to confirm [强]
  • DaveGenius
    12-03 22:27
    DaveGenius
    BTC is above 93K. Is the rebound underway?
    • ShyonReplyDaveGenius
      Thanks for sharing your experience, never try this before, let me explore it haha
    • DaveGeniusReplyShyon
      I am holding BTCI by NEOS funds. It is a covered call option that generates monthly income and holds 25% spot Bitcoin.  Have you thought about this type of exposure to Bitcoin?
    • Shyon
      I believe the volatility will be big in short term
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