Bitcoin (BTC) Nearing the End of Its 'Consolidation Phase' Within a Range, Potential for a Rebound Increasing: Analysis

Bitcoin is undergoing adjustments within a broad range of $91,000 to $108,268, but considering both technical indicators and the upcoming inauguration of Trump, the

Bitcoin (BTC) price is showing potential for a rebound as it nears the end of its ‘consolidation phase’ within a range, analysis suggests.

“Bitcoin is adjusting within a broad range of $91,000 to $108,268,” cryptocurrency media outlet Cointelegraph reported on the 14th, but added that “considering both technical indicators and the upcoming inauguration of Trump, the recent adjustment phase for Bitcoin is nearing its end.”

“Historically, after Bitcoin hits a new all-time high, the subsequent price adjustment lasts about 3-4 weeks with a decline of 30-35%,” cryptocurrency analyst Rekt Capital stated, adding that “this current downtrend has lasted 4 weeks. The adjustment is likely in its final stage.” The analyst explained that the recent decline in Bitcoin was only 15%, which was less than expected.

“Bitcoin saw a major rebound after the capitulation (mass sell-off) last January,” cryptocurrency analyst Tardigrade noted, suggesting that “a similar scenario could unfold this time as well.”

“The Bollinger Bands have narrowed extremely. The bottom is near,” cryptocurrency analyst Batman predicted.

“Some investors are expecting Bitcoin prices to rise after Trump’s inauguration on the 20th,” the media outlet added, noting that “in the options market, contracts with strike prices of $100,000 and $120,000 are actively being traded.”

Bollinger Bands, on the other hand, are graphs that analyze price fluctuations within a certain standard deviation range based on the moving average line of stock prices. When the band's width narrows, a sharp price change is imminent.