Bitcoin Price Watch: Volume Fades, but a Breakout Still Beckons

Bitcoin price has been showing signs of volume fading while maintaining a price range that suggests a potential breakout could be forthcoming. Currently, Bitcoin is trading around $90,700, with volume significantly lower than its average, indicating reduced trading activity. Despite this, Bitcoin has demonstrated some short-term momentum and formed higher lows on smaller timeframes, which hints at a possible trend reversal if it can overcome resistance levels near $88,000 to $90,000 with strong volume. However, the larger daily trend remains bearish, characterized by lower highs and lower lows, and bearish indicators caution that unless volume and buying conviction increase, the price could retest lower support zones around $85,000 or even $80,000.Current Price and Volume StatusBitcoin's price recently hovered around $90,762 with a day's low near $90,304 and a high of $92,945. The reported volume for recent trading sessions is around 829 million, which is markedly lower compared to its average volume of approximately 64 billion, reflecting a fading trading volume that typically precedes key price moves.Price Range and Resistance LevelsThe digital asset has moved within a tight range between roughly $85,700 and $88,000 in the short term. While there's a cautious rise indicated by higher lows on short-term charts (1-hour and 4-hour), significant resistance remains near $88,000 to $90,000. A confident breakout above this resistance with accompanying volume could mark the start of a bullish trend.Market Sentiment and Technical IndicatorsDaily charts show a bearish trend overall, with lower highs and lower lows prevailing. Major moving averages remain above the current price, exerting downward pressure. Short-term bullish momentum contrasts with weakening volumes and bearish divergences that caution investors. Furthermore, recent data shows institutional outflows from Bitcoin ETFs, adding to the bearish sentiment.OutlookThe trading volume fade is noteworthy as breakouts normally require strong volume supp