Key Insights
- •Bitcoin is retesting $94,555 support, a level that could decide the next major move.
- •A reclaim of $95,200 may strengthen bullish momentum and keep $100,000 in focus.
- •Repeated closes below the consolidation zone may shift BTC toward $93,500 or lower support.
Bitcoin (BTC) was trading just above $94,500 after pulling back from recent highs near $95,700. The $94,555 level is now in focus as the price tests this area following a breakout from a multi-week consolidation range. This zone previously acted as resistance and is now being watched as a potential support level.
On the 12-hour chart, Bitcoin broke out of a tightening range formed over several weeks. The breakout showed strong upward momentum, but the price has since returned to retest the same level. A stable move above $94,555 may keep the bullish setup intact, with targets in the range of $103,000 to $105,900. These are the next visible areas where sellers may appear.
Weekly Trend Shifts After Recovery From Local Lows
In the weekly timeframe, Bitcoin has rebounded from a higher low near $90,000 and is now trading around $94,932. This move follows a short-term decline from near $110,000 and suggests the broader trend may be stabilizing. Price has gained around 4.5% this week, holding within a recovery channel.
Volatility is building, as shown by the expansion in Bollinger Bands. Bitcoin is positioned near the upper half of the range, which often supports continued movement if the trend holds. The MACD is still below the zero line, but the histogram bars are smaller than in previous weeks. This shift may point to a loss in selling strength, though no crossover has occurred yet.
Short-Term Chart Shows Liquidity Sweep and Support Retest
In the 4-hour view, Bitcoin dropped below $95,200 and triggered a sharp move through the $94,500 area. This level had previously held as support, and the current price action is now testing the base of a former consolidation range. This zone had marked the starting point of the earlier breakout and could play a role in the next move.
According to Ardi, "Huge sweep of $94.5K liquidity after losing $95.2K support. Now retesting the prior multi-week consolidation zone. Successive closes below here would be a bad sign for what’s to come."
Moreover, if this zone holds, it may reset the bullish structure. If not, support levels near $93,500 and $91,300 could be next.
Market Watching $94,555 for Confirmation
The $94,555 level was being viewed as a key marker in Bitcoin’s current structure. A strong defense of this level could signal that buyers are still active. Price holding above this point would keep the breakout valid and leave the door open for a move toward $100,000.
Traders are also monitoring a return above $95,200 to confirm renewed strength. If the price remains below this level for too long, the short-term setup could lose momentum. Market direction will likely depend on how Bitcoin performs around the current support range in the coming sessions.