Bitcoin continued to trade in a narrow range on Monday, with price action showing little change over the past three weeks as markets head into the year-end period of low liquidity and reduced volatility.
A technical analyst tracking the daily chart said the move still appears to be part of a broader wave-four rebound, with no confirmation yet of a direct breakout to the upside. Despite small intraday gains, chart structures across timeframes remain aligned and do not show a shift in trend.
According to the analyst, the recent uptick in trader sentiment on social media has been driven by minor green candles on shorter timeframes. But he added that these moves do not change the wider structure, which has remained largely unchanged for nearly a month.
He said traders should “zoom out” and separate short-term fluctuations from long-term patterns, stressing that a chart can appear bullish on lower timeframes while showing a different picture on higher ones.
With the year-end holiday season approaching, the analyst expects slower price action to continue. Bitcoin has hovered within the same range for three weeks, and he said there is little preventing it from staying there until late December.
He added that big directional decisions from market participants are unlikely before early next year.
The analyst continues to track a possible triangle pattern within the current consolidation. A break below $89,300 would invalidate the pattern and likely push the price back toward Fibonacci support between $85,988 and $88,912.
A move above $94,620, the high point of the pattern’s B-wave, would be the first signal of a possible upside breakout.
Micro-support between $90,197 and $91,888 in case of an additional pullback within the structure.
CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.
All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.
Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.
The Pakistan government has accelerated its web3 adoption through a strategic collaboration with Binance. The…
The crypto market turned red today as the majority of tokens recorded almost no gains…
Ripple CEO Brad Garlinghouse announced on X that the company has received conditional approval from…
An interesting debate around XRP has resurfaced after ETF analyst Nate Geraci raised a question…
Ripple, a leading crypto-focused fintech company, has partnered with AMINA Bank to enable near real-time…
The SOL price is navigating at an very critical zone that trades at a high-stakes…
