The cryptocurrency market is witnessing Bitcoin trading within a defined range of $85,000 to $90,000, amid increasing volatility. This price action comes as year-end liquidity remains thin, suggesting traders should prepare for sharp price movements.
Analysts predict that resistance will be encountered at the $90,000 mark, while support appears to be holding firm at approximately $84,500. Unless there is a significant volume breakout, either above $94,500 or below $85,000, Bitcoin is likely to continue its current trajectory.
Recent market behavior indicates that Bitcoin has faced bearish pressure following the October decline, with the price stalling at the noted support level. Traders are advised to remain vigilant, as the combination of low liquidity and heightened volatility could lead to sudden price shifts in either direction.
Investors should closely monitor the trading volume as it could provide insight into potential breakouts or rejections at these critical levels. With the holiday season approaching, the market”s dynamics may shift, impacting liquidity and trading strategies.
