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Bitcoin nears the end of a 6-week triangle pattern, with traders watching for a breakout toward $100K or a drop to the $70K–$75K range.
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Summarize with AI
Summarize with AI
Bitcoin (BTC) is nearing the end of a six-week consolidation phase. The asset has been moving within a tight symmetrical triangle, and traders are now watching for a breakout or breakdown. As of press time, it is trading at around $88,500, showing a slight rise over the last 24 hours.
Price Structure Signals Pressure Build-Up
For the past month and a half, Bitcoin has been forming a symmetrical triangle, which reflects a balance between buyers and sellers, with the range narrowing each week. The current setup indicates that the price is approaching a point where this balance will end, likely with a sharp movement in either direction.
Analyst The Swing Trader posted,
Based on the triangle’s range, a breakout could send Bitcoin as high as $100,500. A breakdown, on the other hand, could lead to a 15% drop toward $75,000.
Meanwhile, Titan of Crypto shared a chart showing Bitcoin in a clear accumulation range between $80,000 and $94,000. The post explained that short-term direction may depend on which liquidity area is taken first, above or below the range.
Some traders expect a move lower before any lasting recovery. Jason Pizzino offered a similar short-term view, pointing to a bear flag pattern following the recent decline. If this pattern breaks to the downside, it could send Bitcoin into the $70,000–$76,000 range.
Large Buyers Add to Bitcoin Holdings
Despite quiet retail interest, institutional activity has continued. Lark Davis reported that public companies now hold more than 1.09 million BTC, or around 5.1% of the supply. Strategy, which recently added 1,229 BTC, now holds 672,497 BTC in total. Metaplanet purchased another 4,279 BTC in December, bringing its total to 35,102.
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Other firms, including Bitdeer Technologies, Anap Holdings, and Cango Inc., have also made purchases. These investments come as the market remains uncertain near the $88,000 mark, with no clear breakout yet.
Technical Momentum Offers Conflicting Clues
Some market indicators are beginning to shift. Ash Crypto posted that the MACD is now at levels last seen during the 2022 low and is showing a bullish divergence. This may suggest that downward pressure is fading. Still, the price has struggled to stay above $90,000 in recent weeks.
A long-term forecast from Dragonfly’s Haseeb Qureshi sees potential for Bitcoin to reach $150,000 by 2026. For now, BTC remains compressed within its triangle, and traders are watching for a move that could set the tone for early 2026.
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Source: https://cryptopotato.com/bitcoins-big-move-is-coming-will-it-be-100k-or-75k/
