As the market volatility continues, Bitcoin (BTC) has failed to hold its short-lived momentum and reclaim a key resistance level for the second time this week. Some market watchers have affirmed that the flagship crypto may continue to have a disappointing end-of-year rally and potentially reach new lows before the pain is over.<\/p>\n
On Thursday, Bitcoin attempted to break past a crucial level after surging 2.9% from its daily opening. The cryptocurrency has been unable to reclaim $89,000-$90,000 area since the start-of-week correction, which sent the price to a two-week low of $85,145.<\/p>\n
Notably, the flagship crypto retested the crucial resistance area twice in the past 24 hours but has been rejected, falling back to the local lows. Market observer Ted Pillows highlighted<\/a> that BTC has been holding above the $85,000 support zone despite the volatility, which could lead to another retest of the key $90,000-$92,000 zone if it holds.<\/p>\n However, if price break below local support<\/a> zone, Bitcoin would likely see a retest of the November lows, around the $80,000 mark. Ted also pointed out that the cryptocurrency may be mirroring its Q1 2025 price action, which suggests that a price drop below the recent lows could happen.<\/p>\n Per the chart, BTC briefly bounced in March from its early 2025 correction before recording a lower low in the next few weeks. This was then followed by the Q2 and Q3 recovery rallies that propelled the price to its latest all-time high (ATH) of $126,000.<\/p>\n Now, Bitcoin displays a similar performance, currently recovering from the initial corrective phase. If history repeats, the flagship crypto could see a 10%-15% drop to the $74,000-$76,000 area in the coming weeks before kicking off a rally<\/a> toward new highs in 2026, the analyst suggested.<\/p>\n Similarly, Ali Martinez affirmed<\/a> that the cryptocurrency is at an inflection point and risks dropping up to 20% if the $87,000 support doesn\u2019t hold. He explained that BTC is breaking out of a bear flag, which could target the $70,000 level if selling pressure spikes.<\/p>\n Meanwhile, another analyst considers that \u201csentiment [is] flipping based on every last daily candle colour.\u201d Daan Crypto Trades pointed<\/a> out that Bitcoin has been trading within the $84,000-$93,500 for the past four weeks, \u201cmoving up and down in a choppy fashion, while trading in between these two larger levels.\u201d<\/p>\n To the trader, the next few weeks will continue to be \u201cgenerally very choppy and lack direction\u201d due to lower liquidity and trading volume during the holiday season<\/a>. \u201cI don\u2019t think you\u2019d be missing much if you log off and come back somewhere early January,\u201d he added.<\/p>\nBitcoin To Continue With \u2018No Direction\u2019<\/h2>\n