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Bitcoin's price faced a compression structure that analyst Michaël van de Poppe identified as a vital defense line separating the market from a deeper correction. The largest cryptocurrency has struggled to surpass the $90,000 resistance following recent losses. In a post dated December 6, Poppe asserted that failing to regain the $92,000 level could lead to a sharp decline toward the $80,000 range.
ContentsCrucial Zone: The $92,000 ThresholdWeak Technical Picture Amid Fed Expectations Crucial Zone: The $92,000 Threshold
According to Poppe, Bitcoin's movement in the $86,000-$92,000 range indicates indecision. The analyst emphasized this area as mere noise with the market lacking clear direction. He noted liquidity had been swept from previous peaks and suggested upward liquidity could only be accessible if bulls regained control.
In technical terms, the $100,700 level stands out as a formidable resistance band, while the area around $89,300 emerges as a critical pivot point. Poppe suggests that slipping below this level could accelerate selling. If Bitcoin fails to revisit $92,000, the price could decline to the $80,000-$82,000 range. Support layers in the $80,900-$76,600 band could potentially form the base of a double bottom formation.
Weak Technical Picture Amid Fed Expectations
As Bitcoin investors await signals on 2026 monetary policy from the Federal Reserve, the market remains stagnant. During the article's preparation, Bitcoin was trading at $89,808, representing a 0.5% drop over 24 hours and a 2.2% drop over the week.
Technical indicators show BTC trading below its 50-day average of $100,131 and 200-day average of $103,640, continuing the long-term downtrend. The 14-day RSI is at 43.04, indicating a lack of strong short-term directional signals. Despite the current decline, Poppe suggests the market might be approaching a bottom area, and a robust response from lower supports could trigger a new rally in the first quarter of 2026.
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