Bitcoin Hovers at $94K: Weekend Range or Breakout Surge?

Bitcoin is currently defending a crucial support level around $94,630 as traders brace for potential volatility heading into the weekend. Technical indicators suggest the cryptocurrency could either break toward new monthly highs or face a sharp retracement if support fails.

The world's largest digital asset has entered what traders are calling "weekend liquidity" territory, with price action expected to consolidate between key levels until Monday's session. This comes as Asian trading sessions have dominated Bitcoin's recent gains, though European and U.S. markets are now showing increased participation.

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Critical Support Zone Tests Bulls' Resolve

According to Lennaert Snyder on X, Bitcoin swept the $94,630 low during yesterday's retracement, establishing this H4 key level as the line in the sand for bulls.

$BTC is holding key ~$94,630 support. Yesterday, Bitcoin retraced and swept the ~$94,630 low, which is also the H4 key level to hold.

Snyder outlined a potential path forward where bulls need to reclaim $95,820 to trigger long positions targeting the $97,960 monthly high. However, he cautioned that losing the $94,630 support could lead to lower lows rapidly, prompting him to look for short opportunities after confirmation on the retest.

Ted Pillows echoed this sentiment on X, noting the sideways price action while emphasizing the importance of the $94,000 support level.

$BTC has been going sideways for now. As long as the $94,000 support level holds, the next big move will be to the upside.

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Session Dynamics Shift as ETF Inflows Surge

The geographical distribution of Bitcoin trading activity has undergone a notable transformation over recent weeks. Daan Crypto highlighted on X that while Asian sessions drove most returns over the past 30 days, the last week saw EU and U.S. sessions joining the rally alongside substantial ETF inflows.

Most of $BTC's returns the past 30 days have been from the Asia trading session. But this last week we saw the EU and US sessions join in as well, combined with the large ETF inflows.

This alignment across trading sessions is crucial for establishing a sustained trend. Daan noted that when one session bids prices up while another sells off, it creates the "bart moves" that have characterized recent action—making it difficult to maintain steady momentum.

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Historical patterns also provide context for the current setup. Ali Charts pointed out on X that after losing the 10-month simple moving average, Bitcoin typically revisits it before the trend continues.

After losing the 10M SMA, Bitcoin $BTC often revisits it before the trend continues.

Traders are now positioned with alerts set for either scenario: a weekend liquidity sweep followed by a Monday-Tuesday breakout, or a decisive loss of support triggering accelerated downside. The next 48 hours could determine whether Bitcoin consolidates its recent gains or faces renewed selling pressure as the new trading week approaches.

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3 Key Takeaways

1. Bitcoin defending crucial $94,630 support level as weekend trading begins with range-bound action expected
2. Asian sessions dominated recent gains but EU and US markets now joining with significant ETF inflow support
3. Bulls need to reclaim $95,820 to trigger rally toward $97,960 monthly high or risk lower lows on support loss