As the weekend progresses, Bitcoin has entered a phase of inactivity, with its price movements remaining confined within a well-known range. The current market atmosphere is characterized by low volatility and a lack of momentum, leading traders to concentrate on clearly defined scalp levels instead of anticipating any significant price shifts. With the holiday season approaching, the emphasis is on patience and precision as participants await their next substantial catalyst.
Bitcoin Returns to Weekend Range Stability
In a recent analysis, expert Lennaert Snyder highlighted that Bitcoin has once again found itself in what he describes as “weekend chop.” He does not foresee any major trending movements during this period but has identified several specific scalp scenarios and potential price traps that he will monitor closely for short-term trading opportunities.
Snyder noted that if Bitcoin touches the wick near $88,865 and tests the resistance area just above it, he will be looking for short-sell opportunities after failing to maintain that level. On the other hand, for those interested in going long, he is focusing on $87,420—an important support level marking the beginning of previous upward momentum. Should prices approach this zone again, Snyder will look for clear reversal signals to initiate long positions.
If this key support from earlier impulses fails to hold up under pressure, Snyder predicts a likely continuation down towards lows around $85,890. Upon reaching these lower levels in price action history—should they occur—he plans to adjust his strategy toward waiting for signs of reversal before considering long positions.
Snyder also pinpointed an essential breakout threshold: if Bitcoin can rise above and sustain itself at $89,375 (the upper boundary of its resistance zone), he believes there could be significant upward movement towards approximately $90,400. Although he does not anticipate such a breakout happening before Monday arrives; he’s set alerts accordingly while advising traders to take advantage of their weekend downtime.
The Weekend Stagnation Keeps Bitcoin Within Its Range
In an update via X post platform analyst Daan Crypto Trades remarked that BTC finds itself entering into another weekend marked by relative stagnation. He suggested it might be an opportune moment for traders to step back briefly; allowing themselves some mental rest before potential shifts in market dynamics occur next week.
Despite experiencing various fluctuations recently over several weeks’ time frame—the value associated with Bitcoin remains largely unchanged overall—it continues stuck firmly within its established range without sufficient momentum needed either break out toward new highs or fall into deeper corrections below current levels.
Daan Crypto Trades cautioned participants about upcoming volatility expected next week; noting how market activity tends often thins considerably during Christmas holidays which could lead further choppy trading conditions ahead!
Featured image from Pngtree; chart sourced from Tradingview.com