Key points:
Bitcoin has beaten out three key resistance levels in a single weekly candle.
The weekly close defended the 2025 yearly open, but a subsequent dip below it is making analysis question the strength of the BTC price breakout.
BTC/USD remains in a “critical zone” pending fresh support confirmations.
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Bitcoin’s latest weekly candle saw a reclaim of a full three resistance lines, Rekt Capital reveals.
In addition to horizontal weekly resistance, BTC/USD broke beyond a multimonth downtrend
“Bitcoin broke them all last week,” Rekt Capital commented in a post on X while uploading an illustrative chart.
“Bitcoin broke the Triple Resistance.”
“Bitcoin has repeated mid-2021 price history with a breakout from its range formed by the two Bull Market EMAs,” Rekt Capital summarized.
For some, however, the real test for the current BTC price rebound lies elsewhere.
Related:
In his latest YouTube video analysis on April 28, Keith Alan, cofounder of trading resource Material Indicators, drew attention to Bitcoin’s ongoing battle to reclaim the 2025 yearly open.
At around $93,500, this level forms the key focus moving forward, with a brief dip below it after the weekly close leaving Alan concerned.
“It’s one of the reasons why I think we could see more downside volatility,” he said while acknowledging the potential benefits of a fresh support retest.
Alan added that he hoped the 21-week simple moving average (SMA) would hold, but that price was in a “critical zone.”
Short-term BTC price magnets also include $94,000 thanks to a wall of bids in place on the Binance futures order book.
The buy liquidity was flagged and
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.