Bitcoin is showing a mild rebound on the daily chart, moving back toward an important resistance zone. The price action follows a period where multiple market scenarios pointed to the chances of a short-term bounce, and this upward movement is now playing out.
One analyst explained that Bitcoin must break above a the resistance range around $92,800 to $101,180 to confirm stronger upside move. A more decisive sign would come if the price moves beyond $101,180, an area that includes the 55-week exponential moving average, currently near the $98,000 level.
Historically, this moving average has acted as a major pressure point following market downturns. When Bitcoin has entered bearish phases, such as in 2018, 2020, and 2022. The price eventually climbed back to test or briefly break above this level before determining the next major direction.
Another technical marker being tracked is the 200-day simple moving average, now positioned around $110,000. In previous cycles, Bitcoin has revisited this level even after corrections, and a similar retest remains possible if the current rebound grows stronger.
The overall reaction to the resistance zone will likely shape whether Bitcoin continues its recovery or loses momentum again.
Short-term movement remains limited. Bitcoin has been trading in a tight range and consolidating around the 23.6% Fibonacci level near $90,500, which now acts as immediate support.
Market activity is also quieter than usual due to the long U.S. weekend and stock market closure, reducing overall volatility. A slight dip into this support zone would not be unusual during consolidation.
Only a sustained drop below $88,269 would indicate that a local top may already be in place.
The next one to two weeks are expected to be important for understanding Bitcoin’s direction, with both resistance and moving average zones coming into play. Broader market sentiment may also influence Bitcoin as major stock indices are currently at significant technical levels of their own.
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