Bitcoin Stagnates in Weekend Range Amid Low Volatility

Bitcoin is showing little movement as it enters a "weekend chop" phase. The price remains within a familiar range, with low volatility and traders focusing on specific scalp levels.

  • Analyst Lennaert Snyder notes potential scalp-short opportunities if Bitcoin tests resistance near $88,865 and fails to hold the level.
  • For long positions, $87,420 is identified as a key support area. A break below could lead to a continuation short to $85,890.
  • A major breakout is possible if Bitcoin can sustain above $89,375, potentially reaching $90,400.

Bitcoin

Analyst Daan Crypto Trades highlights Bitcoin's stagnation during the weekend, suggesting it's a time for traders to rest.

  • The asset's price has remained unchanged recently, stuck in its established range without enough momentum for a breakout or breakdown.
  • Next week may see more choppy action due to thinner market activity around the holidays.

Bitcoin