Bitcoin Tests $93K Resistance; Breakout Could Send BTC Toward $125K
Bitcoin is repeatedly testing a key resistance zone near $93,000 amid a wider market consolidation. Technical analysts identify a falling wedge on the four‑hour chart that narrowed from late October to early December; price briefly rose above the wedge and retested the breakout area, with buyers showing increasing strength on each attempt. If bulls reclaim and hold $93,000, several analysts project a potential rally toward $125,000 based on typical wedge breakout behavior and historical post‑break gains. Market commentators (Crypto Faibik, Ted Pillows) highlight the importance of nearby support at $87k–$90k in short‑term price action. Investor Kevin O’Leary and institutional reports cited in the article say institutions are allocating more to Bitcoin and Ethereum, with over 60% of surveyed allocations favoring BTC and ETH due to liquidity and regulatory clarity. Key trading takeaways: monitor BTC price reaction at $93,000 for breakout confirmation, watch volume on retests, and track institutional flows favoring BTC/ETH as a structural bullish catalyst.
Bullish
The article points to repeated tests of the $93,000 resistance with weakening seller control and a bullish falling wedge pattern — technical conditions that historically precede breakouts and rapid gains. Analysts project a move to $125,000 if $93,000 is reclaimed, which would align with prior wedge‑break rallies that produced double‑digit percentage gains. Institutional preference for BTC and ETH is cited as an additional structural support: increased allocation to liquid, regulated large-cap tokens tends to sustain upward momentum and reduce volatility from smaller altcoins. Short term, failure to reclaim $93K could see a pullback to $87K–$90K; a confirmed breakout with rising volume would likely trigger a sharp bullish move and attract more institutional capital. Long term, sustained institutional inflows and recurring technical breakouts would be bullish for market depth and price discovery. Overall, the mix of technical setup plus institutional demand favors a bullish outcome, though traders should watch breakout confirmation and volume to avoid false breakouts.