Bitcoin breaks through $91,000: Weekly and monthly charts simultaneously close, becoming a turning point in the trend.

Source: BlockMedia Original Title: [New York Coin Market] Bitcoin Surpasses $91,000… “Weekly and Monthly Closing at the Same Time… Turning Point for Trend Reversal” Original Link:

Market Rebound Overview

The digital asset market showed signs of a rebound over the last weekend of November, regaining momentum. Bitcoin broke through the psychological support level of $90,000, continuing its upward trend; Ethereum and major altcoins also rose in unison. However, before the end of the year, the market is facing an important dividing point that will determine the direction of the mid-term trend.

Technical Analysis

As of November 30 (Eastern Time), Bitcoin has risen by 1.13% in the last 24 hours, trading at $91,533. On a weekly basis, it has increased by 4.72%, basically recovering from the sharp decline in late November. According to technical analysis, the current price is trading in the range of $90,000 to $93,000, which coincides with the lower boundary of the downtrend line and is a strong resistance level where selling pressure repeatedly occurs.

Ethereum rose by 1.75%, closing at $3,039, with a weekly increase of 7.42%. Major altcoins like Solana (up 1.54%) and BNB (up 2.64%) also saw rebounds, but the upward momentum varies by coin. XRP only increased by 0.35%, while Bitcoin Cash (BCH) fell by 1.87%, undergoing a short-term adjustment, but it still saw a weekly rise of 12.20%, maintaining its strength.

From a sector perspective, Layer 1 projects are leading an upward trend, while thematic assets such as meme coins and exchange tokens show mixed performance with limited movement. Bitcoin's dominance has risen to 58.5%, with funds being re-concentrated into Bitcoin, reflecting an alternative greed and fear index of 18, which is at an “extreme fear” level.

Critical Boundary Point Analysis

Market analysis believes that this weekend holds significance beyond a simple price rebound. Cryptocurrency analyst Keith Alan pointed out that December 1st is “the day this year when the second weekly and monthly candlesticks close simultaneously,” and the closing price at that time may have a decisive impact on the future market direction.

He predicts that if Bitcoin closes above key technical indicators such as the annual opening price, the macro trend line, the 50-week moving average, and the weekly RSI level of 41.5, it may continue to be strong before the end of the year. Conversely, if it closes below these indicators, the current rebound may only be a rebound within a correction, and the market may re-enter a structurally weak phase.

Cryptocurrency asset influencer DonAlt expressed from the same perspective that if Bitcoin closes above $93,000 on a monthly basis, it may re-enter the upper range, potentially opening up space for a rally in the $110,000-$120,000 range. Conversely, if it fails to break through that range, a correction may extend to the mid-term levels of $85,000 or $70,000.

The Importance of Price Structure

Analyst Keith Alan particularly emphasizes the importance of whether the weekly RSI holds above 41. If the RSI closes below this level, despite a short-term technical rebound, the market may still be in a weak trend. In this case, a defensive strategy should be employed to prepare for a new downside test, rather than expecting a strong reversal before the end of the year.