On December 7, 2025, BTC showed a consolidation trend, with short-term rebound momentum but ongoing daily bearish pressure. The bull-bear tug-of-war is focused on key price levels. Core technical analysis is as follows:

1. Key Price Levels: BTC price broke above $90,000 during the day, with an intraday gain of 0.83%, and is currently fluctuating around $89,850. The core support zone is $88,000 – $90,000, which is not only the recent rebound starting point but also the Bitcoin production cost line estimated by JPMorgan. If this level is lost, the price may test $84,000 – $85,000. The main resistance is concentrated at $93,000 – $95,600, a region that has repeatedly blocked rebounds and is critical for a short-term bullish reversal.

2. Candlestick Pattern: A bullish engulfing pattern formed near the key support of $89,939, and the 2-hour candlestick chart has seen consecutive bullish closes, indicating short-term bullish dominance. However, the overall price action is still in a consolidation and recovery phase following the previous decline. The death cross of the moving averages, combined with the downward trend of the long-term moving averages, is limiting the strength of the rebound.

3. Technical Indicators: The 2-hour MACD shows further rebound momentum, but the daily chart still faces bearish pressure. Perpetual contract funding rates have previously turned negative, reflecting an overall bearish market sentiment. The 30-day implied volatility index, though slightly contracted, remains high, suggesting persistent intraday volatility risk.

In addition, expectations of a rate cut at the Federal Reserve's December meeting provide some support for BTC, but policy uncertainty and divergent institutional capital flows make a one-sided trend unlikely. The effectiveness of the breakout above the $90,000 psychological level will be a key indicator for short-term price direction.