Bitcoin Analysis: BTC's indecision Problem

Bitcoin's monthly chart is displaying unprecedented indecision at record highs, highlighted by October's candle which showed a massive trading range but ended with only a modest 3.8% dip. While bulls might see this as base building for a classic stair-step rally, this indecision occurs at a critical juncture: the trendline connecting all-time highs from 2017 and 2021. Furthermore, the monthly MACD histogram confirms a slowdown in upward momentum, showing a bearish divergence because the recent price high lacked MACD confirmation, mirroring patterns seen at previous tops like 2021. This uncertainty persists despite positive macroeconomic news, and it mirrors indecision in the U.S. dollar index (DXY), which may soon rally and pressure BTC. Consequently, if momentum fades, BTC could pull back toward $100,000 or lower before attempting a new move up; a sustained move above $116,000 is needed to reaffirm the bullish outlook.

(Source：CoinDesk)