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Bitcoin in 'critical zone' as triple breakout meets $93.5K support battle
Key points:Bitcoin has beaten out three key resistance levels in a single weekly candle.The weekly close defended the 2025 yearly open, but a subsequent dip below it is making analysis question the strength of the BTC price breakout.BTC/USD remains in a “critical zone” pending fresh support confirmations.Bitcoin (BTC) has broken through three key resistance levels in a week, but its biggest reclaim battle continues.Analysis from sources including popular trader and analyst Rekt Capital underscores BTC price acting in a critical area for bulls.Bitcoin breaks through “triple resistance”Bitcoin’s latest weekly candle saw a reclaim of a full three resistance lines, Rekt Capital reveals.In addition to horizontal weekly resistance, BTC/USD broke beyond a multimonth downtrend previously discussed by Cointelegraph, as well as the 21-week exponential moving average (EMA).“Bitcoin broke them all last week,” Rekt Capital commented in a post on X while uploading an illustrative chart.“Bitcoin broke the Triple Resistance.”BTC/USD 1-week chart with 21, 50 EMA. Source: Rekt Capital/XAnother post highlights Bitcoin leaving both the 21-week and 50-week EMAs behind, with these traditionally offering bull market support.“Bitcoin has repeated mid-2021 price history with a breakout from its range formed by the two Bull Market EMAs,” Rekt Capital summarized.BTC/USD 1-week chart with 21, 50 EMA comparison. Source: Rekt Capital/XBTC price weakness worries lingerFor some, however, the real test for the current BTC price rebound lies elsewhere.Related: A 'local top' and $88K retest? 5 things to know in Bitcoin this weekIn his latest YouTube video analysis on April 28, Keith Alan, cofounder of trading resource Material Indicators, drew attention to Bitcoin’s ongoing battle to reclaim the 2025 yearly open.At around $93,500, this level forms the key focus moving forward, with a brief dip below it after the weekly close leaving Alan concerned.“It’s one of the reasons why I think we could see more downside volatility,” he said while acknowledging the potential benefits of a fresh support retest.Alan added that he hoped the 21-week simple moving average (SMA) would hold, but that price was in a “critical zone.”Short-term BTC price magnets also include $94,000 thanks to a wall of bids in place on the Binance futures order book.The buy liquidity was flagged and uploaded to X by monitoring resource CoinGlass on April 29.Binance Bitcoin futures liquidity data. Source: CoinGlass/X This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Key points:
Bitcoin has beaten out three key resistance levels in a single weekly candle.
The weekly close defended the 2025 yearly open, but a subsequent dip below it is making analysis question the strength of the BTC price breakout.
BTC/USD remains in a “critical zone” pending fresh support confirmations.
Bitcoin (BTC) has broken through three key resistance levels in a week, but its biggest reclaim battle continues.
Analysis from sources including popular trader and analyst Rekt Capital underscores BTC price acting in a critical area for bulls.
Bitcoin breaks through “triple resistance”
Bitcoin’s latest weekly candle saw a reclaim of a full three resistance lines, Rekt Capital reveals.
In addition to horizontal weekly resistance, BTC/USD broke beyond a multimonth downtrend previously discussed by Cointelegraph, as well as the 21-week exponential moving average (EMA).
“Bitcoin broke them all last week,” Rekt Capital commented in a post on X while uploading an illustrative chart.
“Bitcoin broke the Triple Resistance.”
Another post highlights Bitcoin leaving both the 21-week and 50-week EMAs behind, with these traditionally offering bull market support.
“Bitcoin has repeated mid-2021 price history with a breakout from its range formed by the two Bull Market EMAs,” Rekt Capital summarized.
BTC price weakness worries linger
For some, however, the real test for the current BTC price rebound lies elsewhere.
Related: A 'local top' and $88K retest? 5 things to know in Bitcoin this week
In his latest YouTube video analysis on April 28, Keith Alan, cofounder of trading resource Material Indicators, drew attention to Bitcoin’s ongoing battle to reclaim the 2025 yearly open.
At around $93,500, this level forms the key focus moving forward, with a brief dip below it after the weekly close leaving Alan concerned.
“It’s one of the reasons why I think we could see more downside volatility,” he said while acknowledging the potential benefits of a fresh support retest.
Alan added that he hoped the 21-week simple moving average (SMA) would hold, but that price was in a “critical zone.”
Short-term BTC price magnets also include $94,000 thanks to a wall of bids in place on the Binance futures order book.
The buy liquidity was flagged and uploaded to X by monitoring resource CoinGlass on April 29.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
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