Analysts tracking Bitcoin’s movement have identified several key price levels to watch in the coming weekend. The main benchmark is above the yearly open, that is, above the $93,000 zone.
The market is now approaching the weekly close, which is why a return of BTC price above $93,000 becomes an important condition for confirming recovery.
BTC/USD dynamics on the one-hour timeframe. Source: TradingView
On-chain data shows which levels to watch
Bitcoin indeed made an impressive rebound from $84,000 at the start of the week, but optimism quickly cooled due to heavy supply around the yearly open near $93,000.
According to CryptoQuant data, the BTC/USD pair is now trading below the average realized price of most age groups. Analyst Darkfost notes that this situation indicates instability.
He explained that the first important level for the market is the realized price of the youngest segment of long-term holders. This refers to the group of BTC owners who have been holding for six to twelve months, with a cost basis around $97,000.
According to the analyst, this level separates short-term holders from long-term ones. If Bitcoin rises above it, this group will again find itself in the comfort zone. Their expectations will return to a positive range, which will reduce the likelihood of sell-offs and add stability to the market.
BTC realized price and UTXO age bands. Source: CryptoQuant
Darkfost clarified that if Bitcoin fails to hold above $97,000, the market should remain cautious.
The first notable support level below is the $88,000 area. Analyst Daan Crypto Trades notes that this is where the lower boundary of the current range on higher timeframes lies.
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A breakdown of the $93,000 zone followed by a daily close around $91,000 will confirm the continuation of the downward movement. In this case, BTC price may target the area around $68,000.
Bulls need to close the week above $93,000
According to TradingView, the BTC/USD pair fluctuated just below the $92,000 level, trying to stay in this zone.
This means the price remained under pressure and could not return above the yearly open, which is above $93,000.
Analyst Rekt Capital noted that this coincides with strong resistance in the $93,500 area. He explained that a weekly close above this zone, followed by a retest of the level as support, will confirm a breakout from the range, as has happened before.
BTC/USD on the weekly timeframe. Source: Rekt Capital
Private capital management company Swissblock added that Bitcoin’s momentum is “starting to ignite after weeks of solid negativity.” Now BTC is trying to hold above the yearly open in the $93,000–$93,500 range.
In their view, if Bitcoin holds $93,000, the next target will be to break through the $95,000 zone.
Bitcoin price chart. Source: Swissblock
Analyst AlphaBTC also expects a rebound from current levels. He suggests that Bitcoin will try to close the week above the yearly open, which now acts as resistance.
The weak December period for BTC may end amid a reduction in leverage in the market and a return of price to key technical levels. All this points to a more stable market structure.
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While Bitcoin continues to fight for key levels, the market is gradually emerging from a state of tense uncertainty. Investors are closely watching the price reaction to the $93,000 and $95,000 zones, as these may set the tone for movement in the coming weeks. If BTC manages to stay above the yearly open, the market will have a chance for a more confident recovery.
