Analyst: Bitcoin price rejects key resistance but uptrend view remains intact

Bitcoin’s price in its early-December drop reflects algorithmic flows, thin liquidity, and a resistance retest, with van de Poppe framing it as a routine reset within ongoing consolidation.

Bitcoin price declined as December began, a move that fits a familiar pattern rather than signaling a structural shift in the broader trend, according to crypto analyst Michaël van de Poppe.

The analyst’s latest market update points to a combination of automated flows, weakened liquidity, and a retest of a key resistance zone as the drivers behind the decline.

Van de Poppe noted that Bitcoin often experiences volatility when a new month begins. As algorithmic trading systems reset, short-term selling pressure tends to emerge, reflected in the sharp early-December drop visible on TradingView chart data.

Liquidity conditions remain thin, according to the analyst. Van de Poppe attributed this to a major washout on October 10, when many market makers suffered losses and subsequently reduced activity. With fewer liquidity providers in the market, even moderate sell orders have a stronger downward impact on price, he stated.

The cryptocurrency was rejected at a crucial resistance zone, reinforcing a consolidation range that has been forming for weeks, according to van de Poppe. Chart data shows Bitcoin (BTC) repeatedly tapped this resistance and failed to break through, creating a ceiling in that area. The rejection triggered the downside move currently unfolding, the analyst said.

The TradingView chart illustrates a sharp drop from a recent local high, followed by a deep liquidity sweep below the lower range before a modest recovery. This aligns with van de Poppe’s comments about algorithms triggering early-month downside and market makers being unable, or unwilling, to stabilize price during low-liquidity hours. The chart also shows buyers stepping back in near the lower range, preventing a further breakdown.

Van de Poppe expects Bitcoin to retest the same resistance level within one to two weeks. If the market successfully breaks above that ceiling on the next attempt, he anticipates upside continuation toward higher levels, according to the analyst.

Bitcoin continues to consolidate, van de Poppe stated. According to the analyst, the current decline represents a standard reset in a market still building momentum rather than a sign of weakness.