After failing to breach the $90,000 mark, Bitcoin (BTC) continues to oscillate within its local range, showing no clear direction. Some analysts believe that the leading cryptocurrency will remain rangebound until next year, at which point a significant moment may arrive.
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Bitcoin Enjoys Holiday Interlude
On Christmas Eve, Bitcoin persisted in its sideways movement, trading between the $86,000 and $87,000 levels throughout the day. The cryptocurrency has been stuck in the $80,000 to $94,000 range since the late November correction, unable to escape its one-month limits despite previous attempts.
BTC’s price has notably lingered around the middle of its range, fluctuating between $84,000 and $90,000 for almost two weeks. Analyst Ted Pillows observed that Bitcoin “is currently in a no trading zone,” suggesting that without reclaiming the $90,000 resistance, another test of the $84,000 support could be forthcoming.
However, should these support and resistance levels hold, Bitcoin will likely continue to fluctuate within its range until market momentum resurfaces. In the meantime, Daan Crypto Trades pointed out that December has been “a rather dull month, all things considered.”
In a post on X, he elaborated that the broader crypto market has experienced “no major narratives or significant moves, just a series of up days followed by down days, with altcoins trending lower and BTC & ETH remaining relatively stable.”
The trader also stated that this hasn’t been BTC’s best year, despite achieving new highs this quarter, noting that “this year was disappointing, particularly when considering risk adjusted returns.”
Nevertheless, he remarked that “during years like these, significant strides are made towards redistributing coins from OG large holders, leading to a more evenly spread supply. Regardless of short-term price fluctuations, that’s a positive trend.”
Will BTC Breakout or Breakdown in 2026?
Daan asserted that Q1 2026 will be the critical moment for Bitcoin to “demonstrate its potential,” drawing attention from all corners of the market to assess whether the cycle is concluding.
Other market analysts have proposed two possible scenarios for BTC’s early 2026 trajectory. Ted Pillows noted that BTC seems to be mirroring its fractal pattern from 2021-2022, which could indicate an impending bear market.
According to the chart, Bitcoin experienced a significant decline after peaking in late 2021, followed by a brief recovery phase at the beginning of 2022 before descending again.
From this perspective, the analyst predicts a potential rise towards $100,000 at the dawn of 2026, followed by another downturn that could target the $60,000 to $70,000 range. Conversely, Eljaboom suggested that BTC may replicate its earlier performance from this year.
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He highlighted that BTC is forming a multi-month falling wedge pattern on the three-day chart, reminiscent of the pattern that developed between Q4 2024 and Q2 2025, which led to the Q3 2026 surge.
If history is any guide, the cryptocurrency could test the lower boundary of the pattern in the upcoming weeks before potentially breaking out and reaching new highs by Q2 2026.
At the time of writing, Bitcoin is trading at $87,350, marking a 0.5% decline within the daily timeframe.
Featured Image from Unsplash.com, Chart from TradingView.com
