Analyst: Bitcoin Could Consolidate in the $86,000 to $92,000 Range

BlockBeats News, Dec 20, Wintermute trading strategist Jasper De Maere indicated that Bitcoin may fluctuate in the range of $86,000 to $92,000. Currently, it is not advisable to overinterpret technical indicators, and more profit-taking is expected in the next two weeks, driven mainly by year-end portfolio adjustments and tax considerations. He expects Bitcoin's sideways movement to continue until a new catalyst emerges, one of which could be the large-scale options expiry in late December.

De Maere stated that while it is still too early to claim that the market has bottomed out, signs of a market bottom are beginning to emerge. "In the short term, I am confident that we are oversold."