Bitcoin held firm this week after a brief pullback, but analysts said the broader price structure still points to higher levels if key support zones hold.
The world’s largest cryptocurrency has continued to rise since its lows in late November, and recent price movements suggest buyers remain active even during the decline.
Short-term rebound appears to be a normal correction
After a significant rise from its lows on November 21st, Bitcoin entered a short-term consolidation phase, followed by a slight pullback. Prices briefly fell into a key support band before stabilizing, suggesting that buyers intervened quickly.
“This was not an aggressive selloff,” said one analyst, adding that the move appeared to be a routine correction within an ongoing uptrend.
Support zone holds between $90,850 and $92,900
Bitcoin’s pullback has found support between $90,850 and $92,900, an area that has become important over the past week.
Price briefly touched the lower end of this range before rebounding, confirming the view that the bulls are still holding on to the trend. Analysts said staying above this zone is important to maintain a bullish near-term outlook.
So far, the price movement within this range has been in line with expectations and there are no signs of panic selling.
Resistance at $94,780 could signal another up move
On the upside, experts are focused on this week’s recent high of $94,780. A clear break above this level could confirm the next leg of the Bitcoin rally.
If this happens, analysts believe that the retracement level of around $97,000 and the technical extension zone of around $98,400 could become price targets.
Downside risk remains if support collapses
Analysts cautioned that despite the positive outlook, any decisive action below $90,850 would weaken their bullish view.
If we break below this level, the focus could shift to deeper consolidation or a retest of December lows. Such developments would suggest that the current stage of recovery has stalled.
