As Bitcoin (BTC) attempts to reclaim the $88,000 area, some market observers believe that the recent lows have marked the bottom and a price recovery is underway. Nevertheless, other analysts have warned that the flagship crypto’s November pain could continue if current levels do not hold.
Related reading
Bitcoin finds local support
On Monday, Bitcoin continued its price recovery from the latest correction, approaching key resistance for the second day in a row. Throughout November, the cryptocurrency has struggled to hold multiple crucial levels amid crypto market volatility, falling below the $100,000 psychological barrier and trading near multi-month lows.
Last week, BTC plummeted below the $90,000 level for the first time since April, hitting a low of $80,600 on Friday. Over the weekend, the price of the flagship crypto stabilized, trading between $84,000 and $87,000 and briefly testing the $88,000 resistance before being rejected.
Arthur Hayes, co-founder of crypto exchange BitMEX, suggested that Bitcoin’s price will benefit from “small improvements” in US liquidity trends. In a post on Monday
This also applies to analyst Rekt Capital claimed that Bitcoin is revisiting a key reaccumulation area between $82,500 and $93,000, where the price consolidated in the first quarter of 2025 after losing the upper limit as support.
This is where Bitcoin built its base before moving up earlier in the cycle, and it continues to define the lower bound of the current structure. Together, these levels form a clear monthly range between $82.5,000 and $93,000, setting the broader context for this consolidation phase.
The analyst also highlighted that BTC’s weekly close above the $86,000 level lines up with the crucial monthly range, adding that the price could now build a bottom around this area to develop a new range between this level and the $93,000 resistance.
According to him, investors should not worry if the price drops end up in the liquidity pool between $78,000 and $86,000 “as long as general stability remains at current levels.”
No BTC party until 2028?
Market observer Ted Pillows noted that Bitcoin failed to reclaim the local highs in the daily and weekly timeframe, suggesting that if the $88,000-$90,000 zone does not turn into support soon, the price could fall to a new monthly low below the $80,000 mark.
Meanwhile, Crypto Bullet shared a bearish outlook for the flagship crypto, confirming that BTC “won’t make a new ATH until 2028” based on historical data. He explained that if BTC repeats its four-year cycle performance, the price may reach its cycle top in October and enter a new corrective phase.
The analyst pointed out the similarities between the 2021-2022 bull run and the current one. According to the chart, BTC was floating within a rising channel, with the price rising to the upper limit for the second time after a major retest of the rising support level.
Related reading
However, when Bitcoin retested the channel’s lower limit for the second time, the price bounced towards the channel’s mid-zone before being rejected at the 50-week moving average (MA) and losing the multi-year pattern.
As BTC is currently retesting key ascending support, the analyst suggested that BTC will likely retest the $110,000 area in the coming weeks before returning about 60% to the $40,000 area in 2026.
At the time of writing, Bitcoin is trading at $88,692, up 2% on the daily time frame.
Featured image from Unsplash.com, chart from TradingView.com