According to ChainCatcher, research by CryptoQuant indicates that Bitcoin will continue to experience range-bound fluctuations. Analyst Percival points out that Bitcoin's 14-day volatility index (CI) is in an early zone, showing a corrective trend during the consolidation period.
As of December 7, the daily CI measurement is 56.7, the highest level since mid-August. A higher CI value indicates greater volatility in market conditions, while a lower value suggests an upward or downward market trend.
Percival states that by looking at the actual price of short-term Bitcoin holders, strong resistance levels that the market may encounter can be predicted. The first resistance level is $110,000 (+1.5sd), and $120,000 has a very significant psychological and emotional impact.
