Bitcoin is holding steady above key support levels as weekend trading gets underway, with $98,200 and $107,500 as the next major targets. Traders are watching to see if the uptrend will continue or if lower levels will be tested in the typically thinner weekend market. The coming sessions are likely to set the tone for Bitcoin’s short-term direction.
Key Support Holds: $94,630 Remains Crucial
Analyst Kamile Uray notes that Bitcoin remains firmly above the $89,326 support zone. Staying above this level keeps the door open for the uptrend to resume, as it continues to serve as a critical foundation for bullish momentum.
If Bitcoin can break above the $98,200 resistance, the focus will shift to $107,500. A decisive daily close above this level would mark the first higher high relative to the last major decline, signaling a potential continuation of the bullish trend.
Conversely, a rejection at resistance and a drop below $89,326 could see the downtrend resume. A reversal within the $83,822–$82,477 support zone might offer bulls another chance to push higher. However, a close below $82,477 would likely lead to further downside, potentially testing the historically strong support region between $74,496 and $71,237.
Bitcoin Weekend Liquidity Ahead: Expect Range-Bound Action
Crypto expert Lennaert Snyder highlighted that Bitcoin is defending the key $94,630 support level, which also serves as a crucial four-hour chart level. After briefly dipping to this zone on Friday, Bitcoin stabilized, reinforcing its importance for the short-term structure.
As weekend liquidity conditions take hold, Bitcoin is expected to trade within a defined range until Sunday evening or Monday. For bullish traders, the plan is to hold above the low and watch for a break in market structure above $95,820. If that happens, long positions could target the monthly high of $97,960, with a portion of the position potentially held to capture further gains if momentum continues.
However, if Bitcoin loses the $94,630 support on the four-hour chart and falls back into the previous range, a move toward lower lows becomes more likely. In that scenario, short positions would be considered after a confirmed retest, providing a structured way to manage risk.
Frequently Asked Questions
Frequently Asked Questions About Bitcoins Current Price Action
Beginner Questions
1 What does holding a key support level mean
It means Bitcoins price has dropped to a specific point where buyers have historically stepped in to prevent it from falling further Think of it as a price floor thats holding strong for now
2 What are price targets like 98200 and 107500
These are specific price levels that analysts look at as the next major milestones Bitcoin could reach if its current upward momentum continues 98200 is the nearer target with 107500 being the next one after that
3 Why is weekend trading mentioned as important
Trading volume can be lower on weekends which sometimes leads to more volatile and unpredictable price swings Watching how Bitcoin behaves at support during this time can signal its strength for the week ahead
4 Is Bitcoin in a good position right now
Holding a key support level is generally seen as a positive sign of strength It suggests theres significant buying interest at that price which could be a foundation for a move toward the higher targets mentioned
Intermediate Advanced Questions
5 What happens if Bitcoin breaks below this key support level
If the price closes decisively below this support level it could signal a shift in sentiment The next lower support level would then become the focus and the bullish targets would be put on hold until new strength is shown
6 Whats driving this move toward these high targets
Factors typically include sustained institutional buying positive macroeconomic trends anticipation around the next Bitcoin halving cycle and overall market sentiment shifting from fear to greed
7 Are these price targets guaranteed
No price targets are never guaranteed They are projections based on technical analysis patterns market structure and historical behavior They serve as guideposts not promises
8 Whats the difference between resistance and a price target
Resistance is a price level where selling pressure has historically increased halting or reversing an uptrend