"Bitcoin (BTC) stuck in prolonged range-bound trade…watch $86,000 as a near-term rebound zone"
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Summary
- An analysis said that Bitcoin (BTC) has failed for months to break out of its range, raising the possibility of a near-term pullback.
- Daan Crypto Trades pointed to BTC’s re-entry into the $84,000–$94,000 range and suggested the area around $87,000 could serve as near-term support.
- Keith Alan said a dead cross has formed and flagged a potential technical rebound around $86,000, adding that BTC may seek direction around key moving averages.
An analysis has suggested that a near-term pullback risk is emerging as Bitcoin (BTC) has failed for months to break out of its trading range.
According to crypto-focused media outlet Cointelegraph on the 20th (local time), trader Daan Crypto Trades said, “BTC’s price has fully returned to the $84,000–$94,000 range that had held over the past two months,” adding that “the area around $87,000—corresponding to the 2026 opening price—could act as a near-term support level.”
Keith Alan, co-founder of crypto market data platform Material Indicators, offered a similar outlook based on technical indicators.
He explained, “A dead cross has formed as the 21-week and 50-week moving averages crossed,” noting that “historically, each time this pattern appeared, the market went on to form a long-term bottom.”
He added that “a technical rebound could emerge around $86,000, where the 100-week moving average sits.”
Market participants say BTC may, for the time being, continue to probe for direction around key moving averages rather than stage a clear trend reversal.
![[Market] Bitcoin breaks below $92,000…declines deepen](https://media.bloomingbit.io/PROD/news/4cae954a-d799-4f79-a899-9e51a051cb5d.webp?w=250)
