Bitcoin (BTC) attempts a soft recovery after dropping below $95,000 on Nov. 25, breaking an ascending broadening wedge pattern. Despite finding support at the 100-day EMA, combined overhead resistance at the 50-day EMA and $95,000 may hinder its rebound toward $99,000.
Diverging Analyst Predictions on BTC’s Next Move
Bullish Targets: $100,000 and Beyond
Independent analyst Javon Marks predicts BTC could still hit $113,386, a 20.7% increase from current levels, citing historical trends and on-chain data. Bitcoin (BTC) researcher Axel Adler Jr. adds that low "Value Days Destroyed" metrics reflect strong holder confidence, keeping the market bullish.
Bearish Outlook: Potential Drop to $73,000
Ran Neuner, founder of Crypto Banter, warns of a possible drop to $73,000 within 21 days if BTC breaches key support levels. Technical analyst Cryptotoad also signals "lower numbers" due to the current impulse wave structure.
Mid-Range Retest: $88,500 to $82,000
Commodities trader Horse suggests BTC could bounce between $88,500 and $82,000, based on auction market theory and volume profile analysis.
Thanksgiving Volatility: A Historical Pattern
Historically, Bitcoin (BTC) has shown mixed performance during Thanksgiving week. While Wednesdays often lean bullish, Thanksgiving corrections are common, with notable dips recorded from 2019 to 2023. If BTC fails to reclaim $95,000 within the next 24 hours, volatility could pull prices toward the $90,000 liquidity zone.
Key Technical Levels to Watch
Support: $90,000 (liquidity zone), 100-day EMA.
Resistance: $95,000 (psychological level), 50-day EMA.
Upside Target: $113,386 (historical trend).
Downside Target: $73,000 (CME gap).
Conclusion: Bulls or Bears—Who Will Win?
As Bitcoin teeters near critical levels, the next 24-48 hours will determine its short-term direction. Whether BTC reclaims $95,000 or succumbs to Thanksgiving volatility, its trajectory will set the tone for December’s market trends, according to Cointelegraph.
