The Red Week and the Green Year for Bitcoin

Two substantial retreats to the lower zone of its one-month range have followed Bitcoin's breakout over $100,000 in early December. The flagship crypto's price ranged from $90,000 to $108,000 in December, mostly between $96,000 and $102,000.

Bitcoin has lost the $100,000 support zone after achieving its last all-time high (ATH) of $108,353 ten days ago, plummeting to its lowest price in weeks. BTC lost its Christmas retest over $98,000 on Thursday and has failed to recapture it.


According to the expert, Bitcoin might witness “some weird price action over the next few weeks with despair followed by an absolute moon mission and killer alt season.”

Meanwhile, Daan Crypto Trades labeled BTC's price movement the “end of the year chop.” As Bitcoin trades sideways, liquidity is “building on both sides,” with a crucial milestone above $100,000 and an area of interest below $94,000.

Some investors requested that BTC's chart be zoomed out to show that the cryptocurrency is still within a historical range despite its horizontal trend. Bitcoin would rise 48.15% in Q4 and 122% overall if it ended the year at its present price.

Bitcoin risks drop to one-month lows

BTC might drop to $86,000 if it breaks the $92,500 support zone, according to analyst Carl Runefelt. Ali Martinez alerted investors about a critical BTC milestone.

He previously presented a negative picture where BTC may go as low as $60,000, stating that some experts predicted a 23% to 36% correction.

Martinez believes a 25% drop below $70,000 is feasible since the URPD chart shows little support below $93,806 and $92,730. “If this critical demand area doesn’t hold, we could see a sharp drop to $70,085,” he said.

If BTC has “a sustained close above $97,300 and, more critically, a daily close above $100,000,” the analyst said this prognosis would be outdated. Martinez said that regaining these levels may start the $168,000 trek.

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