Bitcoin, Weekly Box Range Top Test... "If it holds at $93,500, $100,000 looks possible"

2026-01-07 01:31:08

Source: BlockMedia Original Title: Bitcoin Tests Weekly Box Range Upper Boundary… “Holding $93,500 Could Signal $100,000” Original Link: Bitcoin has defended the lower end of the key weekly box range(range) and successfully rebounded, entering a pivotal point that could determine its medium-term direction. Market participants are considering whether the weekly closing will break through the upper boundary of the box range and whether maintaining the $93,500 support level will be a key factor influencing future trends.

Crypto analyst Rekt Capital evaluated that Bitcoin has held the lower end of the weekly box range and is now rebounding through the entire range to test the resistance at the top. He explained, “Breaking through the weekly upper boundary or the support turning into resistance after a breakout could confirm an upward breakout of the box range.”

In this scenario, the long-standing weekly downtrend that has persisted since mid-October 2025 could come to an end. Rekt Capital analyzed that while this downtrend is not a long-term trend, it could serve as a meaningful signal of a transition from a medium-term perspective.

The key support level to maintain medium-term bullishness is identified at $93,500. If this price level holds on a weekly basis, it is believed that Bitcoin will have the technical conditions to attempt further gains.

Market flow and derivatives market indicators are also showing a pattern consistent with technical analysis. Recently, whale addresses have been accumulating, while small wallets are taking profits and reducing their positions. In the derivatives market, open interest and funding rates remain stable, indicating limited excessive leverage.

Some market analysts suggest that if Bitcoin breaks through the weekly box range upper boundary, it could lead to increased short-term volatility and potentially test the psychological resistance level of $100,000. Conversely, failure to break through might result in sideways movement within the weekly box range for the time being.

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