Bitcoin Bears Take The Wheel — Why $94,000 May Be The Next Critical Zone

Summary: Bitcoin’s price has struggled to maintain upward momentum, consolidating within a narrow range despite briefly rising above $108,000. Technical indicators suggest weakening momentum, with $94,000 emerging as a potentially critical support level.

Background: Bitcoin Stalls Above $100,000

After briefly reaching highs of $108,000 earlier this week, Bitcoin has mostly remained range-bound between $103,000 and $106,000. Despite holding above the psychological $100,000 level since early May, the flagship cryptocurrency has failed to initiate a sustainable rally, raising concerns among traders about declining momentum.

Technical Analysis: $95,000 Resistance, Momentum Wanes

On-chain analyst Burak Kesmeci highlighted several indicators pointing to potential downside risk, with particular emphasis on the range between $93,000 and $94,000 as the next key support area. In a recent post on X, Kesmeci cited the Fixed Range Volume Profile (FRVP) Intensive Swap Level (ISL) — currently near $95,000 — as a significant resistance level likely to influence short-term price action.

According to Kesmeci, if Bitcoin fails to maintain levels above the ISL, it could push the market into further selling pressure. The 50-day Simple Moving Average (SMA50), currently around $105,000, is also under threat. Should BTC confirm a break below this level, a sustained bearish move could follow.

Additionally, the Relative Strength Index (RSI) remains below 50 and its 14-day average, confirming deteriorating bullish momentum. Kesmeci pointed out that lower lows in the RSI further reinforce a seller-driven market structure.

Analyst Viewpoint: $94K Range Offers Support Opportunity

Explaining his focus on the $94,000 zone, Kesmeci noted that the Value Area Low (VAL) on the FRVP model spans $93,000 to $94,000 — making it a critical support range. This area could provide a platform for a potential rebound, especially during short-term declines.

Kesmeci also referenced the 200-day Simple Moving Average (SMA200) near $95,000, which supports his thesis of a potential bounce in that zone. For now, the analyst advises market participants to monitor this level closely, as buying opportunities may emerge if Bitcoin retests this support area.

Market Reaction and Price Update

At the time of writing, Bitcoin is trading at approximately $101,596, marking a 1.3% decline over the past 24 hours. The broader market sentiment appears cautious, with investors watching whether BTC will hold key support levels or slide further into bearish territory.