Bitcoin has risen nearly 2% in the last 24 hours and remains stable above the 92,200 USD level. The daily chart is still moving slowly, but the 4-hour chart is beginning to show signs of stronger buying pressure.
Since the short-term chart can capture changes more quickly, the next few sessions may determine whether Bitcoin will test the 95,000 USD level, which experts agree is a critical point for BTC's price surge.
Short-term strength is increasing, but there are still risks.
Bitcoin is approaching the point of an upward EMA crossover on the 4-hour chart. EMA refers to the exponential moving average, which gives more weight to the latest prices. Therefore, traders often use it to catch early trend change signals. If an upward crossover occurs when the faster EMA crosses above the slower EMA, it is considered a signal that buying pressure is increasing. Currently, the 50-EMA is about to cross above the 100-EMA.
The gap between the two EMAs is narrowing rapidly. If a crossover actually happens, Bitcoin may have an easier path to USD 95,700, which is considered a key resistance level. However, the Bull Bear Power, which indicates who is in control of each candlestick, is weakening. If it weakens again, the crossover may not occur. This is an important risk in the short term.
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This is the point where external expert opinions align with the chart. Analysts from B2BINPAY, a comprehensive crypto ecosystem for businesses, expressed similar views to BeInCrypto:
Bitcoin is trading in the range of USD 92,000–93,000, but despite several attempts, it has not been able to break through USD 95,000. It still lacks clear momentum.
…if so, we may see Bitcoin attempt to reach USD 96,000 if the market can stay above this range. The next step may move towards USD 100,000.
This supports the idea that USD 95,000 is the true resistance, so short-term buying pressure must be strong enough to lead to long-term growth. Even above USD 100,000 could emerge from this point.
Increased stagnation may be a key trigger.
Spent Coins Age Band measures the number of coins that have moved between holder groups. If the number decreases, it means that older coins are still inactive (the rate of entering a stagnant state is increasing), leading to reduced selling pressure and often correlating with price recovery.
This index has dropped from 24,100 on December 10 to 12,500 today, a decline of nearly 50%. Similar declines have previously led to recoveries.
Between December 2 and December 9, the number of coins used decreased from 27,800 to 9,200. After that, Bitcoin increased by about 5%.
From November 21 to 24, the number of coins used decreased, and Bitcoin increased from USD 85,500 to USD 92,300, or about 8%, within the following days.
Although the decline in this round is less, the pattern remains the same, with increased dormancy (the number of coins being used decreasing) alongside attempts to create a crossover potentially being a key factor in the short-term chart.
Short-term Bitcoin price levels to watch this week.
The first resistance on the short-term Bitcoin price chart is at USD 93,300. Since December 9, Bitcoin has not been able to close a 4-hour candle above this level clearly. Therefore, if it breaks through, it will open the way to USD 94,300.
If the EMA crossover succeeds and momentum remains stable, the USD 95,700 level will become the target, indicating whether Bitcoin can aim for the zone analysts are discussing.
Support is at USD 90,800. If it falls below that, USD 89,300 will become a key support level, which will delay attempts to reach USD 95,000.
Currently, Bitcoin has three key components: a potential EMA crossover, a decrease in spent coins, and prices are squeezing closer to resistance. Therefore, if buyers can maintain support and the trends of these indices continue, Bitcoin may have a chance to test at USD 95,000 (or more precisely at USD 95,700).
