Jan 7, 2026
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Bitcoin Reclaims $93,500 Mark, Eyeing Potential Bullish Breakout
Bitcoin (BTC) is retesting the $94,000 area as support after breaking a crucial resistance level. This move could lead to new highs.
Key Developments
- Bitcoin reclaimed the upper zone of its multi-month price range and is attempting to maintain above $93,500.
- The cryptocurrency previously faced strong resistance at $93,500 but closed last week above $90,500, moving toward the key upper boundary.
- Rekt Capital notes that the $93,500 level is critical for upcoming price action, marking it as a potential macro resistance.
Technical Analysis
- A weekly close above $93,500 followed by a successful retest would indicate a breakout from the weekly range.
- Historically, Bitcoin has shown similar behavior during market recoveries, suggesting potential for higher levels.
- Monitoring the Exponential Moving Averages (EMAs) around $97,000-$98,000 is crucial, as breaking these could indicate bullish momentum.
As of now, Bitcoin is trading at $93,330, showing a 4.8% increase over the past week.
