Bitcoin enters the weekend in a quiet, range-bound manner, with support around $90,500-$88,200. While price action remains subdued for now, key resistance levels around $94,100-$107,500 will likely determine the market’s next big move. Whether BTC resumes its upward trajectory or tests deeper support, the coming week could provide the confirmation the market has been waiting for.
Expect slower Bitcoin market movements
According to according to Kamile Uray, the market has entered the weekend, a period typically characterized by slow and moderate price movements. The key support area between $90,588 and $88,280 has not yet reached a clear bottom, but continues to prevent a sharper decline.
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On the upside, a daily close above the resistance at $94,130 would indicate this optimistic The momentum resumes. If this level is breached, the next key resistance to watch is in the $98,200-$107,500 range. The $107,500 mark is particularly significant as a daily close above it would represent the first higher high against the latest downward wave on the daily chart, potentially opening the door for further upside continuation.
If the market faces deeper declines, there are several support zones to check: $86,398, $83,822 and $82,477. As long as BTC remains above $82,477, any pullbacks are likely to be viewed as retests of previous breakouts, leaving the broader bullish scenario intact.
If BTC closes below $82,477, it could trigger a continuation of the downtrend, potentially testing the $74,496-$71,237 zone, which represents a strong support area. Once a clear reversal is confirmed from this region, an upward move targeting the downward trendline could follow potential opportunities for traders to re-enter the market.
Weekend choppiness expected as volume remains light
In a more recent one update by Lennaert Snyder on X Bitcoin has entered the weekend liquidity phase. As usual, trading activity is expected to be subdued due to weak weekend volume. Looking ahead to next week, Snyder noted that the best-case scenario would be a break above the monthly open in the next weekly candle.
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Snyder keeps an eye on the key triggers for quality trades. Historically, Sunday “scam pumps” have provided opportunities to execute short trades nearby liquidity zones. Currently, the monthly opening of $87,600 is seen as the prime target for potential downside.
A diagonal line on the chart highlights the buy-side liquidity of shorts, which can be wiped out before a market structure break (MSB) occurs, allowing shorts to execute. If Bitcoin climbs above the current weekly high near $94,700, Snyder notes that the setup would simply wait for the next MSB to short again.
Another key resistance to watch next week will cost about $96,500. A clear break above this level would negate the bearish thesis targeting the monthly open, which would signal that upside momentum could dominate.
Featured image from Pixabay, chart from Tradingview.com