Bitcoin (BTC) during Thursday’s November 27, 2025 Thanksgiving session costs $91,503, rising
1.14% and has behind it a test of session maximums around $91,925, the intraday
high recorded during today’s trading. This is a continuation of strong gains
this week, with Bitcoin rebounding 12% from last Friday’s devastating drop to
$80,600, its lowest level since April and a seven-month low.
Although
this corrective bounce has been going on for several sessions, in my view this
remains only a bull trap left by bears and the price still has a chance to
continue the declines observed since early October when Bitcoin achieved an
all-time high above $126,000 toward my ultimate target around $74,000, this
year’s minimums.
In this
article I analyze Bitcoin’s price during Thanksgiving and review two updated
BTC price forecasts from Tom Lee and Cathie Wood.
Why is
Bitcoin going up today on Thanksgiving? The rally is primarily driven by a surge
in Federal Reserve rate cut expectations for December, with odds jumping from
below 44% just a week ago to 85% currently according to market pricing. After
lingering below $90,000 for nearly a week, Bitcoin
managed to rise above that threshold on Wednesday and continues gaining ground
Thursday.
According
to market analysis, Bitcoin rebounded as investors recognized it had become
extremely oversold, with the Relative Strength Index (RSI) bottoming at 23, a
level historically associated with macro bottoms. The Crypto Fear and Greed
Index tumbled to the lowest point this year, and it’s common for Bitcoin
Bitcoin
While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that
While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that
Read this Term to
rebound whenever it moves to the extreme fear zone.
Bitcoin price Thanksgiving. Source: CoinMarketCap.com
Additionally,
institutional money is returning. ETF inflow data has shown positive movement
for two consecutive days, with major players like BlackRock and
Fidelity re-entering the scene. Nearly a billion dollars worth of
liquidations have reset over-leveraged long positions, clearing the path for a
technical bounce.
However, in the short-term, Bitcoin still may fall.
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Bitcoin Technical
Analysis: Bull Trap at $92K-$94K Resistance
We still
find ourselves below the main resistance zone marked by the 100% Fibonacci
extension and 61.8% Fibonacci retracement around $92,000 and $94,000 levels, a
zone that constituted local support at the turn of April and May. Current
real-time data confirms Bitcoin is trading at $91,503 with a day high of
$91,925, approaching but not yet breaking this critical resistance.
As long as
we remain below this level, I maintain my bearish narrative and price forecast
toward $74,000 from which Bitcoin will then bounce and return in the medium
term to higher levels than the current all-time high, ultimately entering a
price discovery phase.
According
to my technical analysis framework, I will abandon my narrative if within this
correction there’s a breakout of the current resistance and its test from the
other side as new support according to the polarity reversal principle, which
would allow gaining greater confidence and increase buying pressure.
How low can Bitcoin go? BTC/USDT technical analysis. Source: Tradingview.com
Bitcoin Critical Technical
Levels
Key Level
Price
Technical Significance
Current Price
$91,503
Thursday Thanksgiving, +1.14%
Day High
$91,925
Session maximum, approaching resistance
Day Low
$90,068
Thursday support test
My Resistance Zone
$92,000-$94,000
100% Fibo
+ 61.8% retracement, April-May support
Iliya
Kalchev, dispatch analyst at digital asset platform Nexo, shares a similar
view, telling Cointelegraph that “cryptocurrency markets will continue
lacking conviction until Bitcoin can reclaim the $92,000 level, which may ‘open
the door to a broader recovery if macro conditions align.'”
It’s worth
remembering that at this moment officially the trend on the Bitcoin chart is
bearish,…