Wintermute analyst: Bitcoin is short-term oversold, but the sideways trend may continue in the near future
According to Odaily, Wintermute trading strategist Jasper De Maere stated that bitcoin is currently short-term oversold, but the sideways trend may continue, and it is likely to fluctuate within the $86,000 to $92,000 range for now. He advised against over-interpreting technical indicators at this stage and expects more profit-taking in the next two weeks, mainly driven by year-end portfolio adjustments and tax considerations. He anticipates that bitcoin's sideways movement will persist until a new catalyst emerges, one of which could be the large-scale options expiry in late December. Although it is too early to assert that the market has bottomed, signs of a bottom are beginning to appear. (CoinDesk)
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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