Bitcoin (BTC) has experienced significant price fluctuations, reaching an all-time high of $99,645 but now consolidating above the $90,000 support zone. A recent short-term downtrend line has posed resistance, risking a drop to two-week lows if not broken.
Despite this, November has seen BTC gain over 47%, creating optimism for a potential run to the $100,000 milestone. However, resistance at a Lower High trendline has obstructed this advance, marking it as a "moment of truth" according to analyst Rekt Capital.
A daily close above $97,000 on Thursday is necessary to break past this trendline, otherwise, $93,580 is a critical demand zone to prevent a sell-off. Analyst Ali Martinez cites Thanksgiving’s historical market influence, noting potential volatility.
BTC is currently trading at $95,135, marking a monthly return of 36.6%. While November is set to close as the second-best month of the year, sustained price action in December is anticipated.
