Usman Salis
⬤ Bitcoin is stuck in limbo after its sharp drop and bounce back, now trading in a clear box between the low 80,000s and mid 90,000s. The price has tested the bottom of this range several times without triggering any real panic selling. What we're seeing is Bitcoin catching its breath—momentum has cooled off, but nothing's broken yet.
⬤ The chart shows a well-defined range that formed after the late November decline. Every time BTC dips toward the lower boundary near $80K, buyers step in and stabilize things. On the flip side, sellers keep defending resistance in the mid $90Ks, preventing any meaningful upside breakout. It's basically a standoff between bulls and bears, with neither side winning.
⬤ Momentum has clearly cooled compared to earlier trending moves. Instead of clean directional candles, we're getting choppy, overlapping price action that grinds sideways. The projected path on the chart suggests more of the same—continued consolidation until something breaks. The key point is that neither support nor resistance has cracked yet, so the structure is still holding.
⬤ This consolidation phase matters because Bitcoin usually sets the tone for the entire crypto market. When BTC consolidates without breaking down, it typically means downside risk is contained even if upside momentum is paused. How this range eventually resolves will determine whether Bitcoin pushes higher or extends this sideways grind even longer.
Usman Salis
