Bitcoin weekly chart closely monitors new target
Over the past 24 hours, Bitcoin has returned to the upper boundary of the multi-month price range and, for the first time in nearly a month, retested the $94,000 level. Since the correction at the end of November, Bitcoin has been in a consolidation phase, having dropped to an eight-month low of $80,600 at that time.
During this period, Bitcoin's weekly chart has been fluctuating within the $86,200 to $93,500 range, encountering strong resistance near the midpoint of the range. However, last week, Bitcoin successfully closed above the $90,500 resistance level, moving closer to the key upper boundary.
Analyst Rekt Capital emphasized that the $93,500 area is a critical level for Bitcoin's future price movement and noted that Bitcoin has failed to break through the $93,500 zone for most of the fourth quarter.
Now, the price is once again challenging this level, "which is not only the upper resistance of the weekly range but also a confluence resistance level that has been troubling prices since mid-October 2025, forming a multi-week downtrend."
Rekt Capital pointed out that because the price has closed below this level for the past 12 months, this level is likely to act as a macro resistance. "In a four-year cycle, such resistance levels typically hinder price increases for about three years before being broken during a halving year," he explained.
He added that if Bitcoin has already entered a bear market, "this means the price may break through $93,500 in the coming months to confirm the macro low, before continuing to decline." Therefore, Bitcoin is unlikely to return to this level until the next halving year in 2028.
Over the past 24 hours, Bitcoin has returned to the upper boundary of the multi-month price range and, for the first time in nearly a month, retested the $94,000 level. Since the correction at the end of November, Bitcoin has been in a consolidation phase, having dropped to an eight-month low of $80,600 at that time.
During this period, Bitcoin's weekly chart has been fluctuating within the $86,200 to $93,500 range, encountering strong resistance near the midpoint of the range. However, last week, Bitcoin successfully closed above the $90,500 resistance level, moving closer to the key upper boundary.
Analyst Rekt Capital emphasized that the $93,500 area is a critical level for Bitcoin's future price movement and noted that Bitcoin has failed to break through the $93,500 zone for most of the fourth quarter.
Now, the price is once again challenging this level, "which is not only the upper resistance of the weekly range but also a confluence resistance level that has been troubling prices since mid-October 2025, forming a multi-week downtrend."
Rekt Capital pointed out that because the price has closed below this level for the past 12 months, this level is likely to act as a macro resistance. "In a four-year cycle, such resistance levels typically hinder price increases for about three years before being broken during a halving year," he explained.
He added that if Bitcoin has already entered a bear market, "this means the price may break through $93,500 in the coming months to confirm the macro low, before continuing to decline." Therefore, Bitcoin is unlikely to return to this level until the next halving year in 2028.