Bitcoin hovered round $88,000 on Dec. 23 as merchants positioned for volatility, with BTC nonetheless capped under $90,000.
Vary holds under $90,000
BTC/USD stayed in a roughly $5,000 hall for an eighth straight day, in response to TradingView knowledge.
A number of merchants mentioned a breakout try might arrive inside days, at the same time as others warned that technical indicators stay fragile.
Bull case: breakout and six-figure targets
Analyst Ted Pillows mentioned a reduction rally might come first, earlier than weak spot resumes.
He wrote:
“A pump in direction of the $98,000-$100,000 stage earlier than the subsequent leg down.”
Pillows additionally pointed to weekly RSI bearish divergence and warned {that a} 100-week EMA crossing under the 100-week SMA beforehand preceded 40%-50% drops inside 4-6 weeks.
Dealer Captain Faibik forecast a bullish breakout “in subsequent few days,” calling the correction “full.”
One other dealer, Korinek_Trades, cited Elliott Wave construction and projected upside targets to $150,000.
Bear case: $70,000-$72,000 rematch
CryptoQuant contributor CryptoOnchain mentioned bitcoin remained “fragile” and will revisit a high-demand zone between $70,000 and $72,000.
CryptoOnchain wrote:
“The subsequent main draw back goal lies on the high-demand zone between $70,000 and $72,000, the place stronger purchaser curiosity is anticipated to emerge.”
The publish additionally flagged rising BTC inflows to Binance, together with $1.4 billion value of bitcoin, as an element that might add promote stress.