Bitcoin has crossed three major resistance points in a week but faces challenges stabilising above the 2025 yearly open at around $93,500. Analysts highlight this dip as a potential sign of weakness, while short-term price targets hover around $94,000, supported by trading activity on Binance. The market remains in a ‘critical zone’ as investors await new support confirmations.
Bitcoin (BTC) has recently navigated through significant resistance levels, reclaiming three major barriers in just one week. The latest weekly close defended the yearly open from 2025, but a subsequent dip below this level raises questions about the sustainability of the breakout. Despite this, BTC/USD finds itself in a ‘critical zone’ as traders await new support confirmations to bolster momentum.
According to popular analyst Rekt Capital, Bitcoin’s latest weekly candle demonstrated a strong performance by breaking through not one, but three resistance lines. This includes overcoming horizontal weekly resistance, a multimonth downtrend, and the 21-week exponential moving average (EMA). “Bitcoin broke them all last week,” Rekt stated on social media, sharing a chart to illustrate the significance of this multi-faceted breakout.
Yet, concerns linger regarding Bitcoin’s future price stability. Keith Alan, a co-founder of Material Indicators, highlighted in a recent YouTube video that the critical test for Bitcoin now revolves around its ability to reclaim the 2025 yearly open, currently around $93,500. Following a dip below this level post-weekly close, he expressed worries about potential downside volatility, even as he acknowledged the need for a fresh support retest to ensure stability.
Alan stressed the importance of the 21-week simple moving average (SMA), hoping it would hold as a support level. Furthermore, short-term price targets include the $94,000 mark, bolstered by a significant bid wall seen on the Binance futures order book. Monitoring resource CoinGlass identified this buy liquidity, suggesting ongoing interest from traders. Keep in mind that this article is for information purposes, not investment advice—trading carries risk and it’s crucial to conduct thorough research before moving forward.
