coindesk.com
This is a technical analysis post by CoinDesk analyst and Chartered Market Technician Omkar Godbole.
Bitcoin's BTC$87,809.43 late-year attempt to regain poise ran into a glass ceiling Monday, forcing prices back below $88,000.
That ceiling is defined by a descending trendline drawn from October’s record high above $126,000, connecting the peaks of subsequent shallow recoveries—most notably the $116,400 high.
This trendline swatted back attempts to establish a foothold above $90,000 on Monday, reinforcing the "staircase-down" pattern that has plagued the largest cryptocurrency throughout the fourth quarter. By failing to clear this hurdle, BTC has printed another "lower high," signaling a resurgence of sellers near the resistance line and stalling the momentum needed to challenge the six-figure mark.
Consequently, the immediate outlook remains bearish as long as prices hold below the trendline. The latest rejection shifts focus toward the $84,000–$84,500 support zone, followed by the November low near $80,000.
To revive the bullish outlook, BTC must overcome the trendline resistance. Such a breakout, especially against the backdrop of a sliding dollar index, could accelerate gains toward the $100,000 mark.
