Bitcoin (BTC) hodlers take pleasure in one other day of no volatility on December 26 as hopeful forecasts are indicators of a pattern reversal.

BTC/USD 1 Hour Candlestick Chart (Bitstamp). Supply: TradingView

Opinions on the BTC worth backside proceed to vary

Knowledge from Cointelegraph Markets Professional and TradingView confirmed additional sideways motion close to $16,800 for BTC/USD on Boxing Day.

The pair weathered the vacation season comfortably, with decreased volumes having no affect on an already deflated market that was seeing its lowest volatility on report.

With few trading alternatives within the remaining week of Do Nothing December, analysts tried to prime the ship for potential headwinds.

“If BTC fails to reclaim ~$17,150 as help earlier than year-end…then $BTC will set up the $13,900-$17,150 vary as its new playground,” Rekt Capital tweeted in a brand new replace.

“Subsequently, worst-case BTC might fall to the $13900 vary low, a -20% decline from present costs.”

Rekt Capital referred to a earlier idea that included help ranges on the one-month BTC/USD chart.

Annotated BTC/USD chart. Supply: Rekt Capital/Twitter

A recent downtrend remained a well-liked guess amongst commentators, with Crypto’s Il Capo as adamant as ever {that a} new macro backside is but to return.

“I believe most bears are anticipating 10k and ignoring any help earlier than that level. 11K-13K is a really robust help that ought to maintain,” he argued.

Nonetheless, in response, one other in style trading account, Revenue Blue, caught by its warnings that $10,000 would mark the underside of the Bitcoin bear market.

Annotated BTC/USD chart. Supply: Il Capo from Crypto/Twitter

Analyst counts all the way down to volatility return

In the meantime, by way of breaking the nagging low-volatility established order, dealer Elizy had a possible silver lining for market contributors.

Associated: Bitcoin accumulation addresses close to report 800,000 regardless of whale sale

“BTC, the motion is approaching…I believe within the subsequent 48 hours,” reads a part of a tweet.

Elizy added a week-long BTC/USD chart with important help simply above $13,000.

Annotated BTC/USD chart. Supply: Elizy/Twitter

Nonetheless, many had been greater than content material to attend till BTC worth “Chopfest” naturally got here to an finish.

The views, ideas, and opinions expressed herein are solely these of the authors and don’t essentially replicate or characterize the views and opinions of Cointelegraph.