This past weekend, Bitcoin’s price action remained relatively slow, but bulls continue to maintain momentum for now. Across the daily and lower timeframes, the trend remains decisively bullish. However, zooming out to the weekly chart shows potential risks that traders should not ignore, suggesting that Bitcoin could be setting up for a lower high if certain levels fail to hold.
Golden Zone in Sight
Currently, all eyes are on the 0.618 Fibonacci retracement zone — often referred to as the “golden zone” — at $96,479. This area will serve as a critical resistance level if Bitcoin continues to push higher in the coming days. A break above this zone with strong continuation could open the door for new all-time highs, or ATHs, marking an exciting period ahead for BTC holders.
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Weekly Chart Warning Signs
However, the weekly chart presents a potential bearish argument. If Bitcoin cannot push decisively above $96,479, it's possible that a lower high could form somewhere around $94,000–$95,000, setting up a reversal back toward lower prices. In that scenario, weekly support at $88,752 becomes extremely important. A failure to hold that zone could confirm broader weakness and shift the higher timeframe structure back in favor of the bears.
Daily Chart Remains Strong
On the daily chart, momentum remains firmly with the bulls. One of the key levels to watch is $91,619, which marks the last significant swing low before Bitcoin resumed its move higher. As long as BTC holds above that daily level, the path of least resistance remains up. Zooming into the four hour timeframe shows this structure in even greater detail, highlighting how each minor pullback has been met with strong demand.
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50 EMA Reaction: A Key Technical Factor
A major technical development to note is Bitcoin's recent reaction off the 50 EMA on the weekly chart. This dynamic support zone, which was highlighted in previous analyses, provided a strong foundation for the latest bullish push. Continuation from here will be critical; if momentum fades around key resistance zones, it could point to exhaustion and deeper pullbacks ahead.
External Factors to Watch
Looking ahead to this week, it will be important to monitor the correlation between Bitcoin and U.S. indices, particularly the Nasdaq. Historically, Bitcoin has often tracked moves in risk-on assets, and with major economic data—such as the nonfarm payrolls report—scheduled for release on Friday, volatility could increase sharply. A strong jobs report might fuel further risk appetite across markets, benefiting Bitcoin. On the other hand, any surprises could create turbulence and pressure BTC alongside equities.
Final Thoughts
In summary, Bitcoin remains in a bullish posture across lower timeframes, with $96,479 standing as the next major target. Continuation and strength above that level could bring ATHs into play sooner than expected. However, traders should remain cautious of the weekly structure and keep an eye on critical supports like $88,752 and $91,619 to gauge whether the bulls can maintain their grip or if a deeper correction could be around the corner.
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