Bitcoin is positioned for a potential rally, currently attempting to reclaim the 50-day Simple Moving Average (SMA) on the daily chart. Recent extreme low volatility, evidenced by constricted Bollinger Bands, historically precedes significant price movements. Selling pressure in December is attributed to tax-loss harvesting, which may reverse as capital losses are locked in for tax benefits, leading to re-investment. Historically, major rallies in Bitcoin have been sparked by breaking above the 50-day SMA, often following an 'underside-overside test' of the moving average. The current price action indicates Bitcoin has traded sideways into a descending resistance trendline, subsequently breaking above it. Confirmation of support above the 50-day SMA is crucial, mirroring past bullish breakouts. A bounce off this level could signal a long entry opportunity, potentially targeting the 96,000 to 100,000 range. However, a substantial liquidation zone exists around the 88,393 mark. A hard rejection from current levels that breaches this zone could trigger cascading liquidations, invalidating the bullish outlook. Prudent traders should monitor for confirmed momentum and an improved risk-to-reward ratio before initiating long positions, emphasizing a cautious approach to avoid triggering immediate downside liquidations. Further consolidation above key support levels would strengthen the bullish probability.