Peter Smith
⬤ Bitcoin has settled into a consolidation phase above the $94,630 level after a strong move up. Price briefly dipped below this support before bouncing back, which looks more like a quick liquidity grab than any real shift in trend. This level is now the line in the sand for BTC's short-term structure heading into the weekend.
⬤ The four-hour chart shows a clear range taking shape between $94,630 support and $95,820 resistance. After the initial rally stalled, Bitcoin pulled back and has been trading sideways ever since. If BTC can push back above $95,820 and hold it, that opens the door to test the monthly high near $97,960.
⬤ Right now, the market's showing typical weekend behavior—tighter ranges, less volume, not much happening. There are basically two ways this can play out. Either Bitcoin holds above $94,630, builds some momentum, and works its way back toward the upper resistance zone. Or it loses that support level on a four-hour close and drops back into the previous range, which would likely trigger a faster move down as sellers step in.
⬤ How Bitcoin handles this range matters for the broader crypto market since it tends to lead the way for everything else. Staying above $94,630 keeps the bullish setup alive going into next week. Losing it would shift momentum to the downside and put more pressure on price. Whatever happens here will likely set the tone once liquidity picks back up early next week.
Peter Smith
