Key Takeaways
- •Bitcoin is consolidating above $93.5k, forming a base for potential upward momentum.
- •Weekly RSI divergence suggests buyers remain active despite recent pullbacks.
- •Key resistance near $110k–$120k may trigger the next impulsive move higher.
Accumulation Above Key Support Levels
Bitcoin has entered a consolidation phase after peaking near $120k, following a strong sequence of higher highs and higher lows. The weekly trendline continues to hold, according to ZAYK Charts.
This trendline has repeatedly supported buyers, suggesting defensive accumulation rather than market panic. The recent pullback respected rising trendline support, demonstrating that buyers remain active in the $93.5k–$94k demand zone.
Price action in this region indicates smart money absorption, as selling pressure stalled and reversals were swift. This strengthens the argument for a continued bullish framework.
RSI analysis adds further context to the consolidation. While price retraced, RSI formed a bullish divergence, with momentum weakening on the downside.
Currently, RSI is curling upward from low-40 levels, a typical precursor for renewed upside on higher timeframes.
Resistance Zones and Potential Upside
Critical resistance remains between $102k and $106k, representing the first supply barrier above the current consolidation range. This zone previously acted as support and now functions as resistance.
Reclaiming it could open a path to $110k and a potential retest of prior highs. The weekly price structure also indicates that the $110k–$120k region is the next major hurdle.
A clean close above these levels would likely trigger a renewed impulsive leg higher. The combination of trendline support and momentum indicators reinforces this possibility.
ZAYK Charts note that Bitcoin has respected hidden bullish divergences, with profits reaching +10% in recent moves. This suggests that the current rebound may continue, provided the demand zone holds and resistance levels are tested gradually.
Macro Trend and Market Structure
Examining the long-term trend, Bitcoin has consistently respected dynamic support bands since the 2023 reclaim. During bear market lows, loss of these bands signaled sell-the-rip opportunities, but reclaiming them initiated higher high structures.
The current setup reflects a similar dynamic. Daily closes above $93.5k remain critical to maintaining the bullish thesis. Falling below this level could expose Bitcoin to retracements toward mid-$80k zones.
For now, the trend favors accumulation and measured buying, consistent with long-term upward movement. This weekly structure shows a clear transition from impulse to consolidation.
Price compresses within a range, coiling for expansion, while volatility remains contained. Such setups historically resolve with upward continuation if support zones hold, reinforcing a trend-following strategy.