Bitcoin analysis has mapped out key BTC price levels to watch going into the weekend, with a focus on the yearly open above $93,000.
Key takeaways:
- Key Bitcoin support and resistance levels are coming into focus as BTC approaches the weekly close.
- To solidify its rebound, Bitcoin needs to reclaim the $93,000 level by week’s end.
On-chain data highlights critical levels
Bitcoin’s strong rebound from $84,000 earlier in the week lost momentum as supply congestion near the yearly open around $93,000 weighed on bullish sentiment.
According to CryptoQuant, BTC/USD is currently trading below the average realized price — or cost basis — of most holder age groups, a sign of market fragility, analyst Darkfost noted.
“The first level Bitcoin needs to reclaim is the realized price of the youngest long-term holder cohort,” Darkfost wrote on X Friday, pointing to the cost basis of six- to 12-month holders near $97,000.
“This threshold represents the shift between short-term and long-term holders,” the analyst added.
“Breaking above it would put those investors back into a comfortable position, restoring their expectations of potential gains and encouraging them to keep holding rather than selling, which will bring some stability.”
Darkfost warned that if Bitcoin fails to close above $97,000, “caution remains necessary.”
On the downside, the first significant support lies at $88,000 — the lower boundary of Bitcoin’s higher-time-frame trading range, according to analyst Daan Crypto Trades.
As Cointelegraph noted, a break and close below the $93,000 zone — specifically under $91,000 — would confirm a continued downtrend toward $68,000.
Bitcoin bulls need a weekly close above $93,000
Cointelegraph Markets Pro and TradingView data showed BTC/USD trading just under $92,000, struggling to maintain support.
With price still pinned below the yearly open near $93,000, upward momentum remained limited.
This level also aligns with “high range resistance at $93,500,” analyst Rekt Capital wrote in a recent X post, noting:
“A weekly close above $93,500 and post-breakout retest of this level into new support (just like in previous green circles) would confirm the range breakout.”
Private wealth manager Swissblock noted that Bitcoin’s “momentum is igniting after weeks of being fully negative,” as the market attempts to establish support above the yearly open at $93,000–$93,500.
If BTC can maintain that level, “the next short-term target is a break above $95,000,” the firm added.
Analyst AlphaBTC said he expects Bitcoin to rebound from current levels, aiming for one final push that would allow the weekly close to reclaim the yearly open, which has now flipped into resistance.
As previously reported by Cointelegraph, Bitcoin’s typically bearish December trend could shift if leverage continues to unwind and the price recovers key technical levels — signaling a potentially more stable market setup.
