Bitcoin Remains Steady Over the Weekend, But Next Week Will Be Crucial

Bitcoin is starting the weekend in a stable, range-bound state, with strong support holding between $90,500 and $88,200. Although recent price movements have been calm, critical resistance levels situated around $94,100 and $107,500 are likely to influence the next significant movement in the market. The upcoming week may reveal the confirmation that traders have been anticipating.

Key Takeaways

Bitcoin is currently trading in a range, with support between $90,500 and $88,200.
Resistance levels to watch are between $94,100 and $107,500.
A daily close above $94,130 could indicate a return of bullish momentum.
If Bitcoin falls below $82,477, it may continue its downward trend towards $74,496–$71,237.
Light trading volume is expected over the weekend, but key resistance at $96,500 next week could change market dynamics.

Bitcoin

Anticipating Slower Movements in the Bitcoin Market

Market analyst Kamile Uray has pointed out that Bitcoin has entered a weekend phase where price actions are generally slow and uneventful. The existing support area, which spans from $90,588 to $88,280, has yet to establish a definitive bottom, but it has so far prevented a more significant drop.

On the upside, closing above the $94,130 resistance level could signal the resumption of bullish momentum. Should this resistance be broken, the next significant resistance to watch is in the $98,200 to $107,500 range. Notably, a daily close above $107,500 would indicate a higher high compared to the last downward movement on the daily chart, potentially leading to further upward movement.

Bitcoin

BTC maintaining position above the downward trendline | Source: Chart from Kamile Uray on X

If the market faces further declines, several support zones should be monitored, including $86,398, $83,822, and $82,477. As long as BTC remains above $82,477, any drop will likely be considered a retest of previous levels, thus preserving the overall bullish outlook.

Conversely, if Bitcoin closes below $82,477, this could lead to the continuation of the downward trend, possibly testing the strong support levels at $74,496–$71,237. A confirmed reversal from this area could open the door for upward movement towards the downtrend line, presenting traders with re-entry opportunities.

Expectation of Weekend Volatility Amidst Low Volume

In a recent update from Lennaert Snyder on X, Bitcoin has entered a liquidity phase typical of weekends. Due to lower trading volumes, activity is expected to be quiet. Snyder indicates that the best-case scenario for next week would be breaking above the monthly open in the next weekly candle.

He is keeping an eye on key triggers to identify quality trades. Historically, “scam-pumps” occurring on Sundays have created opportunities for short trades in liquidity zones. Currently, the monthly open at $87,600 is seen as the primary target for potential declines.

Snyder has drawn a diagonal line on the chart to highlight buy-side liquidity from shorts, which may be swept before a market structure break (MSB) develops, allowing for new short entries. If Bitcoin exceeds its current weekly high near $94,700, Snyder suggests that the setup should wait for the next MSB for further short opportunities.

Another critical resistance to watch next week is around $96,500. A clear break above this level would invalidate bearish expectations targeting the monthly open, indicating that positive momentum could take hold.

Bitcoin

BTC trading at $90,723 on the 1D chart | Source: BTCUSDT on Tradingview.com