Bitcoin has just undergone a slight adjustment. However, looking at the overall picture, the general trend of the market has not changed much. Prices are still fluctuating within a familiar range, indicating that selling pressure is still present and the market is not ready for a strong breakout.

In the short term, Bitcoin may be approaching a temporary turning point. The next 24 hours are considered a critical period. If buying pressure is strong enough, prices could recover and attempt a rise before the market establishes its next major direction.

However, it should be emphasized that any short-term increase is likely only part of the accumulation process – moving sideways, rather than a signal for a new bullish cycle.

Important Price Levels to Watch

Above, Bitcoin continues to face a very strong resistance zone ranging from 92,800 USD to 111,200 USD. This area has repeatedly halted the upward momentum of prices over the past few weeks. As long as Bitcoin remains below this zone, the potential for strong increases will be significantly limited.

Conversely, the important support zone lies around the 85,470 USD mark. The price may temporarily dip below this zone in the short term, but the important question is whether Bitcoin will break down and maintain below this support level. If a clear breakdown occurs, the risk of deeper declines will significantly increase.

Possible Scenarios in the Upcoming Time

In the short-term scenario, Bitcoin may continue to adjust to the range of 86,000 – 87,000 USD before showing a price reaction. If the buyers successfully defend this area, the price could bounce back and aim towards the range of 95,000 – 96,000 USD in the following days.

Even if this recovery scenario occurs, it is likely only to extend the current range of fluctuations, rather than opening up a sustainable upward trend. The overall trend of the market still leans negative, and Bitcoin could very well continue to move sideways until the end of the year. A clearer trend – whether up or down – may only truly emerge when the market enters the new year.

Current Situation

At the time of writing, Bitcoin is trading around 88,100 USD, slightly down and returning to the red zone. This reflects the cautious sentiment of investors, as the market is still waiting for a strong enough signal to confirm the next direction.