Bitcoin has entered a quiet phase as the weekend progresses, staying within a familiar price range. Volatility is low, momentum is absent, and traders are concentrating on specific scalp levels rather than anticipating any major shifts. With the holiday season approaching, patience and precision are key as the market awaits its next significant catalyst.
Bitcoin Returns to Weekend Range Activity
In a recent update, analyst Lennaert Snyder commented that Bitcoin has once again slipped into a phase of “weekend chop.” While he does not foresee any significant trending movements during this time, he has detailed several scalp scenarios and price traps he is closely monitoring to capitalize on short-term volatility.
If Bitcoin approaches the wick near $88,865 and tests the resistance area just above it, he will look for scalp-short opportunities, particularly if it fails to maintain the level. On the other hand, for long positions, he has identified the $87,420 level, which represents the beginning of the previous impulse and is a crucial support box. If the price tests this level, Snyder will be on the lookout for clear reversal signals to initiate a scalp-long trade.
However, if the market breaks below that “start impulse” support, the analyst predicts a likely continuation short down to the $85,890 lows. Upon reaching those lower levels, he plans to adjust his strategy to wait for a reversal to a long position.
Finally, Snyder identified a critical breakout trigger: if Bitcoin can secure and maintain above $89,375 (the top of the resistance box), he expects the market to eventually push toward the $90,400 region. Although he doesn’t anticipate this breakout occurring before Monday, he has set his alerts and encourages traders to take the time to enjoy their weekend.
Weekend Calm Keeps Bitcoin in Range
In an X post, analyst Daan Crypto Trades noted that BTC is entering the weekend in a state of relative stagnation. He suggested that this is an ideal time for traders to step back and recharge, facilitating a mental reset before the market dynamics potentially change in the upcoming week.
Despite various fluctuations, Bitcoin’s price has remained largely stable over the past few weeks. The asset remains firmly entrenched in the middle of its established range, lacking the necessary momentum to either surge to new highs or fall into a deeper correction.
Daan Crypto Trades cautioned that the coming week will likely be marked by further choppy price movements, as trading activity often declines significantly around the Christmas holidays.
