Following its inability to break through the $90,000 threshold, Bitcoin remains trapped within its local range, showing no definitive direction at this time. Market analysts are indicating that the leading cryptocurrency is likely to stay within a defined range until next year, when it may face a pivotal moment. On Christmas Eve Day, Bitcoin maintained its sideways movement, fluctuating between the $86,000-$87,000 range throughout the day. The cryptocurrency has remained stagnant between the $80,000 and $94,000 levels since the correction in late November, struggling to escape its one-month range despite previous efforts. BTC’s price has been hovering in the mid-zone of its range, oscillating between the $84,000-$90,000 levels for almost two weeks.
Analyst Ted Pillows emphasized that Bitcoin “is still in no trading zone,” suggesting that if the price fails to reclaim the $90,000 resistance area, it could face another retest of the $84,000 support. However, if the support and resistance levels hold firm, the asset will likely remain within its established range until market momentum makes a comeback. In the latest update, Daan Crypto Trades pointed out that December has been “a very boring month all things considered.” In an X post, he detailed that the broader crypto market was experiencing “no major narratives, no major moves.” We’ve seen a series of upward movements, only to be met with subsequent declines. As altcoins continue to decline, Bitcoin and Ethereum remain relatively stable.
The trader also stated that it hasn’t been BTC’s best year, even with new highs achieved this quarter. He emphasized that “this year was abysmal, especially looking at the risk adjusted returns.” Nonetheless, he emphasized that “during years like these, we are taking big steps towards distributing coins from OG large holders and get a more evenly spread supply. “Regardless of price action in the short term, that’s always a positive development to observe.” Daan stated that Q1 2026 will be the time when Bitcoin can “try and prove itself,” with all eyes on the cryptocurrency’s performance to assess whether the cycle has concluded or continues.
Market analysts are contemplating two possible scenarios for BTC’s performance in early 2026. Ted Pillows pointed out that BTC seems to be reflecting its 2021-2022 fractal, indicating that the leading cryptocurrency is likely entering a bear market. According to the chart, Bitcoin experienced a notable pullback following its peak in late 2021. A brief recovery period marked the start of 2022, but the price soon resumed its downward trend. The analyst has projected a rally towards $100,000 at the beginning of 2026, followed by a potential decline that may aim for the $60,000-$70,000 range. In contrast, Eljaboom highlighted that BTC might be mirroring its performance from the beginning of the year. He pointed out that BTC is showing a multi-month falling wedge pattern on the three-day chart, akin to the one that developed between Q4 2024 and Q2 2025, which resulted in the Q3 3035 rally. If history is any guide, the cryptocurrency may revisit the pattern’s lower boundary in the upcoming weeks before breaking out of the formation and possibly reaching new highs by Q2 2026.