Volatility Without Direction
MakroVision notes that recent dips beneath $92,000 reflect uncertainty rather than trend confirmation. Their view is that selling pressure persists, but momentum swings are failing to extend in either direction.
Michaël van de Poppe shares this view, suggesting that unless $92,000 is decisively tested and broken, traders should expect price action to drift lower and possibly revisit the low-$80,000s to complete a double-bottom structure.
Anything between $86-92K is pretty much noise. Not much will happen for $BTC.
If $92K gets tested, I think we'll break it, but if not, brace yourself for a test at the low $80K range for some sort of double-bottom pattern.
Again, I don't think we're far off bottoming for…
Both analyses converge on one point — Bitcoin may be near the bottoming phase of this cycle, but the base has not been validated yet.
A Critical Support Shelf
MakroVision identifies the $87,400–$88,700 band as the region to watch. It contains key Fibonacci markers from the latest decline and sits where structural support clusters. Maintaining price stability here is seen as the prerequisite for rebuilding confidence. Losing this zone, however, opens the door to a slide toward $82,000–$80,000, which is consistent with Van de Poppe’s commentary.
What Needs to Break for Relief?
Analysts differ slightly on timing, but both emphasize that upside traction emerges only once Bitcoin starts closing above $91,700–$92,000, with medium-term strength confirmed when price breaches the descending red trendline that has capped attempts to rally since the peak.
Van de Poppe frames it more simply — break $92,000 convincingly, or expect one more washout before the trend reverses.
Momentum Indicators Offer Clues
The charts support this indecision narrative.
The daily RSI sits near 42, drifting below neutral territory, which points to cooling momentum rather than exhaustion. Meanwhile, the RSI’s moving average near 39 suggests momentum is not aggressively recovering, keeping sellers in light control.
The MACD readings paint a similar picture. The histogram remains subdued, while the MACD line sits under the signal line, indicating that buyers have yet to reclaim dominance. Analysts interpret this as a market environment where rallies can occur, but conviction is lacking until a breakout confirms accumulation strength.
Analysts See Recovery Into Q1 — If Bottom Holds
Despite downside risk, both MakroVision and Van de Poppe insist the market is not dramatically far from forming a durable bottom. Van de Poppe expects that once the lower support zone completes its validation, a stronger rally could emerge into late Q4 and flow into Q1, driven by completion of a structural base and incoming macro catalysts.