As December draws to a close, Bitcoin appears increasingly uncertain, making it feel like a precarious trade. This unease isn’t driven by macroeconomic factors, news cycles, or social media trends; rather, it hinges on where the daily candle settles according to TradingView charts.
Currently, Bitcoin is closing its daily session below the middle line of the Bollinger Bands at approximately $90,500. This subtle shift quietly alters market sentiment and bias.
When daily closes remain above this mid-line, price action tends to gravitate toward the lower band—now positioned near $87,250—which represents nearly a 3% drop from today’s level.
The broader cryptocurrency environment adds complexity. Bitcoin surged rapidly earlier in December without consolidating gradually through key levels. The range between $90,000 and $100,000 was crossed swiftly rather than built step-by-step. As BTC dips below this mid-band on the daily chart, those previously skipped zones lose their support function and effectively become empty space beneath the price.
Don't Be Deceived by Bitcoin's Calm
The apparent tranquility in Bitcoin’s movement can be misleading. Despite seeming stable now, there is potential for another 3% decline as buyers may be tested closer to the lower boundary of this range.
This situation doesn’t necessarily signal trouble for Bitcoin itself; instead it suggests that purchasing at current levels carries a higher risk of loss than gain. Until daily closes reclaim that crucial mid-Bollinger Band line on TradingView charts, this remains the most likely outcome based purely on indicator-driven analysis—free from emotional or speculative bias.