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As another week of December ends, Bitcoin is starting to feel like one of those trades that does not look fine and comfortable at all, and the issue has nothing to do with macro, news flow or whatever is trending on X today — it is simply about where the daily candle is closing as per the TradingView chart.
Right now, Bitcoin is finishing the day below the Bollinger Bands mid-line, around the $90,500 area, and that is the kind of detail that silently changes the market bias.
As long as daily closes sit above that line, the natural magnet for the price becomes the lower band, which is currently at $87,250 — down almost 3% from the current level.
The crypto market context makes it more delicate. Bitcoin ran higher fast earlier, skipping a lot of structure on the way up. The $90,000-$100,000 zone was just crossed, not built level by level. When the price of BTC loses the daily mid-band, those skipped areas stop working as support and start behaving like open air.
Do not get fooled by Bitcoin's tranquility
What makes this easy to misread is how calm everything feels. But it can be a matter of time till Bitcoin loses another 3% of its price to test buyers at the lower end of the range.
This does not mean Bitcoin is in trouble. It means buying here is more probable to result in loss than bring profit. Until daily closes reclaim the mid-band, this is the main scenario for Bitcoin, stripped of any bias and simply dedicated by the math of the popular indicator.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team