Trading Signals for BITCOIN for December 1-3, 2025: sell below $89,000 or buy if rebounds at $85,000 (2/8 Murray)

[Ben Graham]

Bitcoin is trading around $89,034 below the 21 SMA, going through a strong technical correction after breaking the uptrend channel formed since November 19.

Bitcoin could find good support around $87,500, which is where Murray's 2/8 level is located, which could serve as a good point to open long positions if the price resumes its upward cycle.

If the bearish force prevails, Bitcoin has another key support around $86,000 - $85,000. In other words, if a technical rebound occurs around this area, we could open long positions.

Since last week, Bitcoin has entered an overbought zone. So, we warned you about a probable correction below $93,000 towards $85,000. Bitcoin will likely complete its fall from that key support level in the coming hours. Then, we could expect a technical rebound.

Our outlook remains bearish for Bitcoin as long as the price trades below the 21 SMA or below the uptrend channel around $91,400.

The material has been provided by InstaForex Company - www.instaforex.com