Bitcoin (BTC) is trading steadily above the $91,000 level today, reinforcing a cautious but optimistic tone across the broader crypto market.
According to Brave New Coin’s Bitcoin Price Today Chart, BTC is valued at $91,596, marking a 1.94% gain over the last 24 hours, with daily trading volume exceeding $65 billion. The recent recovery has strengthened expectations that Bitcoin could soon retest a key resistance zone between $93,000 and $94,000, an area many analysts believe will shape short-term momentum.
BTC Approaches a Key Resistance Zone
After breaking above $89,000, Bitcoin has drawn attention from traders and market observers. Ted (@TedPillows), a crypto analyst active on X, highlighted the potential for a significant upward move: “Bitcoin is now approaching $93,000–$94,000 resistance, and a reclaim could send BTC toward $100,000.”
Bitcoin (BTC) climbs past $89K, eyeing $93K–$94K resistance with a possible surge to $100K or a pullback to $88K. Source: @TedPillows via X
Ted also cautioned that failing to break this resistance could trigger a short-term retracement toward $88,000, aligning with recent activity seen in BTC liquidation heatmaps.
Chart data from TradingView shows Bitcoin forming higher lows with ascending support, suggesting a continuation pattern that has historically preceded strong trend reversals near high-volume resistance areas.
Support Levels to Watch: $84,570 Remains Crucial
On-chain data emphasizes the importance of nearby support zones. Ali (@ali_charts), a verified crypto analyst, points to the UTXO Realized Price Distribution (URPD), which shows the price levels where Bitcoin holders most recently moved coins. Ali identifies $84,570 as “the support that matters.”
For Bitcoin (BTC), $84,570 holds as key support, while $112,340 remains the crucial resistance ceiling. Source: @ali_charts via X
Key observations from the URPD include:
A dense cluster of BTC supply at $84,569.62, representing over 3% of circulating coins.
Higher supply bands at $104,765 and $112,340, forming the next resistance layers.
Ali describes $112,340 as “the ceiling to watch,” suggesting that a sustained move above this level could lead to further upside, as discussed in Bitcoin price forecasts.
Understanding Technical Indicators
Sen_Crypto, a TradingView contributor known for detailed BTC technical analysis, notes that Bitcoin may be forming a near-term low, but confirmation is needed. For a stronger reversal, BTC would require higher timeframe resistance breaks, bullish RSI divergence, rising MACD lows, and a validated double-bottom pattern. Currently, buying volume remains thin, indicating that the market has not fully committed to a decisive trend.
Bitcoin may be forming a near-term low, but a confirmed reversal toward the 21-week moving average requires bullish signals, including a double-bottom pattern and rising RSI and MACD. Source: Sen_Crypto on TradingView
Some traders may be less familiar with the technical terms used to analyze BTC. Here is a brief overview:
RSI (Relative Strength Index): Measures momentum and overbought/oversold conditions.
MACD (Moving Average Convergence Divergence): Tracks trend strength and potential reversals.
Double-bottom pattern: A bullish reversal formation where price tests a support twice before moving higher.
Looking Ahead: Will Bitcoin Break Higher or Pause for Support?
Bitcoin’s short-term path depends on whether bulls can reclaim $93,000–$94,000. A breakout could pave the way toward $100,000, while failure to breach resistance may see BTC revisit $88,000 or even $84,570.
Bitcoin was trading at around 91,596, up 1.94% in the last 24 hours at press time. Source: Bitcoin price via Brave New Coin
Traders are monitoring volume, momentum indicators, and ETF flows for confirmation. With tightening volatility and improving sentiment, BTC is at a critical juncture that may determine whether the market continues upward or pauses for consolidation.