Bitcoin Stuck in a Holiday Range CME Gap Below?
During the Christmas period, Bitcoin ( BINANCE:BTCUSDT ) didnt exhibit strong momentum and has been moving within a range.
Bitcoin is currently near the resistance zone($90,960-$90,09 and the Cumulative Short Liquidation Leverage($91,840-$90,92.
From an Elliott Wave perspective, it appears that Bitcoin has completed the Double Three Correction(WXY).
I expect that given the weekend and generally lower trading volume at this time, Bitcoin may struggle to break the resistance zone($90,960-$90,09 and could begin to decline, potentially filling the CME Gap($88,720-$88,12. If BTC breaks the support lines, we can expect further declines to the support zone($87,050-$86,42.
Note: Additionally, two important trading levels to watch for Bitcoin are $90,300 and $87,830.
What are your thoughts? Do you think Bitcoin will continue its trend into 2026, or should we prepare for a correction? Id love to hear your opinion!
Cumulative Long Liquidation Leverage: $87,110-$86,020
First Target: Support lines
Second Target: Support zone($87,050-$86,42
Stop Loss(SL): $91,880
Points may shift as the market evolves
Please respect each other's opinions and express agreement or disagreement politely.
Bitcoin Analysis (BTCUSDT), 1-hour time frame.
Always set a Stop Loss(SL) for every position you open.
This is just my idea; Id love to see your thoughts too!
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