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Bitcoin hovered around $88,000 on Dec. 23 as traders positioned for volatility, with BTC still capped below $90,000.
Range holds below $90,000
BTC/USD stayed in a roughly $5,000 corridor for an eighth straight day, according to TradingView data.
Several traders said a breakout attempt could arrive within days, even as others warned that technical signals remain fragile.
Bull case: breakout and six-figure targets
Analyst Ted Pillows said a relief rally could come first, before weakness resumes.
He wrote:
“A pump towards the $98,000-$100,000 level before the next leg down.”
Pillows also pointed to weekly RSI bearish divergence and warned that a 100-week EMA crossing below the 100-week SMA previously preceded 40%-50% drops within 4-6 weeks.
Trader Captain Faibik forecast a bullish breakout “in next few days,” calling the correction “complete.”
Another trader, Korinek_Trades, cited Elliott Wave structure and projected upside targets to $150,000.
Bear case: $70,000-$72,000 rematch
CryptoQuant contributor CryptoOnchain said bitcoin remained “fragile” and could revisit a high-demand zone between $70,000 and $72,000.
CryptoOnchain wrote:
“The next major downside target lies at the high-demand zone between $70,000 and $72,000, where stronger buyer interest is expected to emerge.”
The post also flagged rising BTC inflows to Binance, including $1.4 billion worth of bitcoin, as a factor that could add sell pressure.