Bitcoin is once again facing a significant resistance range between $92,734 and $101,156, a level that analysts have highlighted throughout the current market cycle. This development comes after BTC experienced a sharp rebound from a recent low near $83,000, signaling a momentary recovery amidst ongoing market volatility.
The resistance area has historically served as a barrier for Bitcoin, and its behavior in this zone will likely determine market sentiment in the upcoming week. A critical aspect of the long-term logarithmic chart focuses on the 55-week exponential moving average (EMA), which is currently positioned around $98,300. This EMA has been a vital support level during previous bull cycles, with Bitcoin bouncing off it multiple times in 2024 and early 2025. However, during a recent correction, BTC fell below this moving average for the first time in this cycle, raising concerns among traders.
Historically, breaches of this nature have often resulted in substantial pullbacks, typically ranging from 30 to 35 percent. The recent decline of approximately 35-36% aligns with these historical trends, suggesting that the current market dynamics may follow a similar pattern.
As Bitcoin tests the aforementioned resistance zone post-bounce from $83,000, the focus shifts to market reactions. Should the market turn bearish, the next notable support zone could fall between $83,240 and $88,160, an area that demonstrated resilience during last week”s sell-off. A decline into this support range could indicate the formation of a broader consolidation structure.
At present, there is no discernible top in sight for Bitcoin. The asset has only shown a brief rejection candle at the resistance level, but the absence of sufficient weakness suggests that a deeper pullback has not yet been confirmed. The market continues to exhibit a waiting phase as traders assess forthcoming price movements.
In the short term, Bitcoin is currently positioned slightly above a minor support band situated between $88,690 and $90,330. This area is viewed as a minor support zone rather than a critical structural level. If the price were to drop below $88,690, analysts anticipate a retest of the more substantial support around the mid-$80,000 range.
