Bitcoin Price Outlook: Bullish Rebound Possible If BTC Closes Above 93,958 with Targets at 95,604 and 99,108

COINOTAG News, December 3 — in on-chain price analysis, Murphy highlighted that last night’s rally produced a robust four-hour candle that deviated meaningfully from the indicator’s baseline near $89,923. He cautioned traders against chasing long exposure at current levels, noting that only a sustained move above this threshold would help preserve the uptrend for the session ahead.

The daily chart remains below the bearish trend line but flirtatiously approaches the inflection near $93,958. A daily close above this level would flip the indicator from red to green, signaling a potential bullish trend reversal. In that scenario, traders may target the next price bands around $95,604 and $99,108, guiding risk management and entry decisions.