Daan Crypto Trades has provided an update on Bitcoin's current market position, emphasizing that no significant changes are expected until the price can overcome the persistent $93K–$94K horizontal resistance cluster. This ceiling has been a barrier for bulls for several weeks.
A sharp buyback occurred after an initial sell-off at the December monthly open, indicating that buyers are actively defending the current levels. However, despite this defense, Bitcoin has remained within a persistent range, failing to generate sustained upward momentum and instead consolidating sideways in an increasingly tight formation.
According to Daan Crypto Trades, a confirmed break and sustained close above the $94K level is necessary to unlock the next significant impulsive move higher for Bitcoin.
Market Analysis and Resistance Levels
Daan Crypto Trades delivered a clear assessment of Bitcoin's current state, stating that the situation remains unchanged as long as the price is capped below the $93K–$94K ceiling. "BTC No changes here. Still stuck below the $93K–$94K resistance. Just ranging for the time being," Daan posted on December 5. This post was accompanied by a monthly chart that clearly illustrates the substantial supply zone situated directly overhead. This resistance area not only includes the psychological $94K round number but also aligns with previous swing highs from late 2024, making it one of the most formidable resistance pockets encountered in the current cycle.
A subsequent chart shared on December 3 highlighted the initial market reaction at the beginning of the month. Bears attempted to push the price lower, but their efforts were met with aggressive buying activity that swiftly reclaimed the lost ground. "Sharp buyback after the initial sell off right at the monthly open. Something we were watching for as those kind of moves rarely stick," Daan noted at the time. Despite this strong show of support, Bitcoin has not managed to build upon this momentum, instead consolidating sideways within a tightening range.
Outlook and Market Sentiment
For Daan, the trading strategy remains straightforward: until Bitcoin achieves a decisive weekly or monthly close above $94K, the market is expected to remain two-sided. The longer the current consolidation phase persists below this significant supply zone, the more explosive the eventual breakout or breakdown is likely to be. Historical data from similar multi-month ranges observed in 2021 and 2024 supports the notion that once this resistance level is breached, momentum tends to accelerate rapidly.
Market participants are currently divided in their interpretations of the tight range. Some traders believe it represents a distribution phase preceding a deeper correction, while others view it as a classic re-accumulation pattern that typically precedes a final parabolic ascent. Daan maintains a neutral stance, awaiting a clear signal from the price action. The core advice from this experienced trader is to respect the current range, monitor the $93K–$94K resistance level closely, and avoid forcing directional trades. When Bitcoin eventually makes its move, it is often characterized by significant and sustained momentum. For the time being, the cryptocurrency is still awaiting its decisive push above the $94,000 mark.