Bitcoin is trading in a rather narrow range, refraining from sharp movements in recent days.
However, a bearish bias prevails. Buyers are exercising caution—bears enter the fray on attempts by the coin to grow.
The premier digital currency remains beneath the $90,000 mark, which it unsuccessfully tried to surpass earlier this week. On Wednesday, BTC settled slightly above the $87,000 level, losing 0.5% since the start of the day.
The market is in limbo, awaiting fresh indications and catalysts. Participants are guessing where the price will head in the final days of the year, and whether more confident upward attempts should be anticipated.
As AI analysis of the BTC/USD pair chart, which our chatbot WarrenAI performs instantly, has shown, the main puzzle at the moment is whether the $84,410 support will hold, or if the bears will force it down to new lows. The AI notes that the MACD indicator reflects a weakening of sellers’ pressure, but a reversal is not yet confirmed:
WarrenAI suggests scenarios and entry points into the market and advises refraining from trades around $85,000—$90,500 due to low trading volumes and a high probability of false moves:
Furthermore, chart analysis allowed the identification of key technical signals with explanations:
Thus, the analysis suggests that participants should hold off on making swift moves until the market settles on a clearer direction vector.
Likewise, you can analyze the chart of any asset. Try it yourself!
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