Bitcoin's recent rebound didn't even touch 108k, which feels a bit disappointing.

Although the longer-term weekly chart isn't very clear, from a key level perspective—the top at 108k last year—it's already been broken. This year's trend is even more uncertain: starting at 93k, soaring all the way to 126k, and now? A big bearish candle has completely stunned traders, a classic rollercoaster market.

There's just over a month left before the year ends. Those who keep saying "returning to 120k is just a matter of time" are probably going to be disappointed. If we can hold the 93k level, which was this year's starting point, that would be a blessing. But if 93k is broken? Then next year will likely be dominated by a bear market, and we'll have a tough time ahead.