3 Reasons Bullish Bitcoin Price Predictions Still Make Sense
At first glance, Bitcoin’s price action looks uninspiring. Over the past 24 hours, BTC is down just 0.2%, and on the weekly chart it’s barely higher, up about 0.7%. Price has remained stuck in a tight range, leaving many traders convinced the market has gone quiet.
However, beneath this calm surface, several indicators suggest Bitcoin is stronger than it appears. Momentum is slowly shifting, selling pressure is easing, and large holders continue to accumulate. These underlying dynamics help explain why bullish Bitcoin price forecasts—such as those from analyst Tom Lee—remain intact despite the lack of a visible breakout.
Improving Momentum and Volume Beneath the Surface
On the daily chart, Bitcoin continues to hold above the $90,100 level. This zone has repeatedly acted as a solid base, absorbing selling pressure and preventing deeper pullbacks during recent volatility.
One of the more telling signals comes from On-Balance Volume (OBV), which tracks whether volume is flowing into or out of an asset. OBV can often reveal accumulation or distribution before price reacts.
Between December 9 and December 11, Bitcoin formed a lower high while OBV posted a higher high. This bullish divergence suggests that, even as price struggled, buyers were quietly becoming more active.
That signal strengthened further between December 10 and December 12. During that period, Bitcoin printed a lower low, yet OBV made a higher low. In other words, sellers managed to push prices down, but with diminishing volume support.
Taken together, these OBV divergences indicate fading selling pressure rather than increasing downside momentum. While they do not confirm an imminent breakout, such patterns often appear ahead of one.
Long-Term Holders and Whales Continue to Accumulate
Technical signals gain credibility when supported by on-chain data—and that data tells a similar story.
