BTC trades near a breakout zone as repeated shakeouts form along a broad descending wedge.
Resistance levels at $96K, $108K, $116K, and $126K define the next major phases of market control.
Macro pressure and rising volatility impact crypto as BTC maintains higher lows through December.
Bitcoin traded near a key breakout area on December 11 while the wider crypto market saw renewed selling. Price action formed repeated shakeouts near the upper boundary of a broad descending wedge, and many traders monitored the structure as buyers tried to hold short-term momentum. BTC is very close to a breakout and the market is seeing many shakeouts during this phase.
BTC Trades Near Breakout Zone as Shakeouts Continue
Bitcoin moved inside a wide descending wedge from late September through December, and the pattern showed lower highs and lower lows across the structure. Repeated tests of compressed support levels created sharp dips where sellers pushed price down before buyers stepped in during fast recoveries. Analysts stated that the entire zone shows heavy manipulation as weak-hand buyers are removed and short-term sellers get trapped.
The eight-hour chart showed BTC trading near the wedge’s upper trendline while forming a new upward sequence. The area around $96,000 acted as the next resistance level. Captain Faibik noted that once bulls break above the $96,000 level, they will take full control of the market. He said, “Those who accumulate on dips will be the ones enjoying the upcoming bullish rally.” The projection on the chart pointed toward a continuation path that extended to the $125,000 region.
Macro events pressured the market after traders reacted to weaker moves in US tech stocks. Bitcoin dropped near $90,000 as Nasdaq futures retreated and tech giants issued softer forecasts. Analysts said this caused investors to reduce exposure to high-risk assets during early US trading hours.
Market Outlook Remains Focused on Resistance Levels
Broader crypto assets, including Ethereum, Solana, XRP, ADA, and DOGE, also moved lower as the aggregate market cap slipped to $3.07 trillion. Analysts watched support and resistance zones closely because short-term weakness raised concerns of deeper corrections across major tokens
Source: KamranAsghar(X)
Liquidity stayed strong, yet volatility increased as uncertainty rose around Federal Reserve policy expectations. According to an observation by market analyst Kamran Asghar, BTC continued to form higher lows through December
His chart showed three resistance zones above current price levels, with targets at $108,000, $116,000, and $126,000. Many analysts noted that continued dip accumulation may support the next bullish phase.
The post Bitcoin Sits at the Edge of a Descending Wedge Breakout as Analysts Flag “Heavy Shakeouts” Near $96,000 appears on Crypto Front News. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.
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