Bitcoin Range-Bound Into The Weekend, But Next Week Holds The Real Test
Bitcoin enters the weekend in a quiet, range-bound mode, with support around $90,500 – $88,200 holding firm. While price action remains subdued for now, key resistance levels near $94,100 – $107,500 will likely dictate the market’s next major move. Whether BTC resumes its upward trajectory or tests deeper support, the coming week could provide the confirmation the market has been waiting for.
Weekend Consolidation and Immediate Levels
As Bitcoin transitions into the weekend, it finds itself in a quiet, range-bound state. Analyst Kamile Uray notes that weekends are typically marked by slow and subdued price action. Crucially, immediate support holds firm between $90,500 and $88,200 (specifically, $90,588 to $88,280), successfully preventing a sharper downturn, although a definitive market bottom in this range has yet to materialize. A sustained daily close above the $94,130 resistance level would be a key indicator for a potential shift towards renewed bullish momentum.
The Pivotal Week Ahead: Breakouts and Retests
The upcoming week is poised to be a pivotal period for Bitcoin. Analyst Lennaert Snyder indicates that the market has entered a weekend liquidity phase, with low trading volumes expected. The ideal bullish scenario involves BTC breaking above the monthly open in the next weekly candle. On the downside, the $87,600 monthly open is identified as a critical target, and historically, "Sunday scam-pumps" have often offered short-term selling opportunities. Should BTC ascend above the current weekly high near $94,700, or clear the significant resistance at $96,500, it would invalidate the bearish outlook and suggest a strong continuation of upward momentum. In the event of deeper corrections, crucial support levels to monitor include $86,398, $83,822, and $82,477. Maintaining above $82,477 is essential for preserving the broader bullish trend, while a definitive close below this level could extend the downtrend towards the $74,490 – $71,237 strong support area, which, if reversed, could offer strategic re-entry points for traders.
