Will Bitcoin Price Continue Climbing? Technical Levels Reveal the $94,000 Catalyst

Bitcoin price managed to hold a critical floor last week, defending the $84,000 support level and closing at $88,656. This week, the asset sits at $88.06K with a 24-hour gain of +1.76%, maintaining the narrow trading range that has defined recent action. The question investors are asking: will bitcoin price continue higher, or will sellers regain control? Based on technical analysis of chart patterns and key resistance zones, the near-term momentum suggests bullish potential if critical thresholds are breached.

Current Bitcoin Price Momentum and Technical Support

The past week proved pivotal for bitcoin price action. Buyers stepped in at the lower trend line of the broadening wedge pattern, a chart formation that has dictated price movement for weeks now. The widening gap between upper resistance and lower support within this pattern reflects increasing volatility—higher highs paired with lower lows. If bitcoin price fails to clear the trend line this week, expect the next leg down to target the $72,000 to $68,000 zone. However, near-term momentum suggests the bulls retain the upper hand.

The $84,000 level continues to act as a resilient foundation. This support has held through multiple tests, giving buyers confidence to push higher. Closing above this floor and advancing toward $88,000 (which we’ve already achieved) signals that will bitcoin price go up remains a viable scenario, at least in the near term.

Will Bitcoin Go Higher? Resistance Levels Between $91K and $108K

For bitcoin price to accelerate upward, buyers must conquer a series of resistance barriers. The immediate hurdle sits at $91,400, just 3% above current levels. Success there clears the path to $94,000—the critical resistance zone that many market participants are targeting. Breaking above $94,000 would signal meaningful momentum and potentially unlock the next wave of upside toward $98,000.

Above that threshold, resistance intensifies significantly. A strong zone extends from $101,000 all the way to $108,000, where sellers have historically stepped in with volume. This range represents the upper frontier where will bitcoin price continue its advance becomes a more speculative bet. A weekly close above $108,000 would raise serious questions about whether the long-term top has truly been established, suggesting far more bullish potential lies ahead.

Near-term market conditions add another layer to the bitcoin price equation. Large long-dated options positions have created a “max pain” price around $100,000, creating a gravitational pull as expiration approaches. Expect bitcoin price to drift toward this level as traders position ahead of settlement, providing technical tailwind for the $94,000 to $100,000 range.

Downside Risks: Support Zones if Bitcoin Price Pulls Back

Should bitcoin price fail to maintain upward momentum, a clear risk hierarchy exists. The first line of defense remains $84,000, which has proven reliable. A break below this level would signal weakening buyer interest. If that fails, the $72,000 to $68,000 support zone should cushion the decline on the initial test.

More concerning would be a close below $68,000, which could trigger a more severe pullback. In this scenario, look for bitcoin price to grind gradually lower toward the 0.618 Fibonacci retracement level at $57,000. This level represents a significant mathematical correction based on golden ratio principles and would likely mark a major inflection point for the broader trend.

Market Outlook and Momentum Drivers for the Coming Weeks

Near-term market conditions favor cautious optimism. Holiday trading volumes during Christmas week were thin, which compressed price movement. However, with the new year now underway, liquidity has improved and volatility may pick up—favorable conditions for bitcoin price to test key resistance zones.

Bears have struggled to break support, and their recent failures suggest shifting dynamics. If bulls can push bitcoin price above $94,000 over the next two weeks, sustained momentum into the new year becomes likely. A weekly close above $94,000 would target the $101,000 zone as the next leg. If bitcoin price can clear $100,000, the $108,000 resistance becomes the next hurdle, though the thick concentration of sell orders in that zone should produce a strong rejection—at least initially.

Understanding Key Technical Terms

Bitcoin Price: The current market value of BTC, which fluctuates based on supply, demand, and technical factors.

Bulls/Bullish: Buyers or investors expecting bitcoin price to move higher.

Bears/Bearish: Sellers or investors expecting bitcoin price to decline.

Support or Support Level: A price floor where buyers historically step in to defend against further decline. Multiple tests weaken support over time.

Resistance or Resistance Level: A price ceiling where sellers emerge to sell into strength. Repeated rejection at resistance weakens its barrier effect.

Broadening Wedge: A chart pattern with diverging upper and lower trend lines that expand over time, reflecting increasing volatility. Higher highs and lower lows characterize this formation.

Fibonacci Retracements: Levels derived from the golden ratio (1.618 and 0.618), used to identify potential support or resistance zones where price reversals commonly occur.

Max Pain Price: An options theory concept suggesting the price at which the largest number of option contracts expire worthless, creating maximum pain for traders on one side of the market.