Bitcoin on the Verge: The $93,500 Level is Key for the Next Steps

Bitcoin (BTC) has broken past a significant resistance level and is now looking to test this area as support, which could set the stage for new price highs. Analysts suggest that reclaiming this level is crucial for the future movement of this leading cryptocurrency.

Key Takeaways

Bitcoin has regained the $94,000 area for the first time in almost a month after fluctuating between $86,200 and $93,500.
Analysts emphasize that the $93,500 level is essential for Bitcoin's price action, indicating potential macro resistance.
A weekly closure above $93,500 could confirm a breakout from the current downtrend, paving the way towards higher targets.
Historical patterns suggest that breaking significant resistance levels could lead to prolonged bullish movement, but a failure to hold could indicate bearish trends.

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Bitcoin Weekly Close Aims for New Targets

In the last 24 hours, Bitcoin successfully reclaimed the upper part of its multi-month price range and is revisiting the $94,000 mark for the first time in nearly a month. Since the major correction in late November, which dropped the price to an eight-month low of $80,600, Bitcoin has been trading sideways.

Throughout this period, Bitcoin has remained within the range of $86,200 to $93,500, encountering strong resistance in the mid-zone. However, last week, it managed to close above the critical resistance level at $90,500, setting it on course toward the key upper boundary.

Analyst Rekt Capital noted that the $93,500 region is vital for Bitcoin's upcoming price movements. He pointed out that Bitcoin encountered rejection at this level for much of the fourth quarter of 2025. Currently, the price is once again testing this area, which serves dual purposes as both the Range High resistance for the weekly range and a confluence of resistance from an extended downtrend that began in mid-October 2025.

Bitcoin

BTC breaks out of weekly downtrend. Source: Rekt Capital

Rekt Capital also suggested that this level could turn into macro resistance since the price closed below it on the 12-month candle. He explained that historically, such resistance levels may hold prices down for around three years before they are finally surpassed in a halving year, which is set for 2028.

BTC Faces Crucial Technical Challenge

Despite facing potentially strong macro resistance, the analyst insisted that whether Bitcoin reclaims or drops below the $93,500 level in the short term isn't as critical as the overall direction it appears to be heading: Bitcoin aims to stabilize and rise above $93,500.

If Bitcoin can close above this level on a weekly basis, followed by a successful retest, it would provide confirmation of breaking out from both the weekly range and the downtrend. Previously, Bitcoin displayed a similar pattern during its recovery in Q2-Q3 2025 when it broke free from the downtrend, reclaimed the $93,500 area, and retested it over several weeks before moving to higher levels.

This upward momentum would also set the foundation for a challenge against the converging exponential moving averages (EMAs) lost during the Q4 2025 corrections. As indicated in the chart, the 50-week and 21-week EMAs currently rest around the $97,000-$98,000 mark.

"History indicates a strong likelihood that the price will surpass these EMAs," Rekt Capital mentioned, but he cautioned that it might not establish these levels as new support. "If the price declines below the EMAs, retesting them from below during their crossover would signal bearish market conditions."

Consequently, reclaiming the EMAs as support is seen as the "most important technical milestone" for Bitcoin to confirm its bullish momentum. Achieving a breakout from the range and a breach of the weekly downtrend is essential for Bitcoin to move toward those EMAs.

As of this report, Bitcoin is trading at $93,330, reflecting a 4.8% increase within the weekly timeframe.

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BTC’s performance in the one-week chart. Source: BTCUSDT on TradingView