Bitcoin (BTC) began the week dropping nearly 10% from the recent highs and retesting the $84,000 area before bouncing. As price risks more downside with early bear market signals, a market observer suggested that the upcoming weeks will be crucial for BTC’s future path.

Bitcoin Holds Key Weekly Range

Last week, Bitcoin led the brief market recovery, surging from its seven-month low of $80,600 toward the $93,000 area, retesting a key weekly re-accumulation range between these two levels. However, the Sunday correction sent the price back to the range lows, raising concerns about the flagship crypto’s short-term future.

Analyst Rekt Capital highlighted that BTC is stabilizing within its weekly range, holding its position above the $82,000 range low. This area marks the top of an early 2025 liquidity cluster that developed around the 50-Week EMA, where the price has tapped with three downside wicks over the past month.

“Last week’s Weekly Close above the Range Low enabled a relief move toward $93,500,” the analyst explained, “but that level acted as clean resistance,” after Friday’s rejection. To the analyst, maintaining stability around the weekly range lows is important because further downside wicking into the cluster is probable.

However, he noted that the consolidation structure remains intact as long as BTC’s price continues to hold above the range low in the weekly timeframe. Rekt Capital added that Bitcoin continues to trade below a sharply declining Macro Downtrend that “has been dictating resistance throughout this phase of the cycle.”

Per the analysis, “A breakout soon would require reclaiming higher price levels, whereas a later attempt would meet the trendline at lower valuations, narrowing the distance between the current price and resistance.”

“In either case, the Macro Downtrend remains the dominant structural barrier, and Bitcoin’s path forward depends on whether consolidation near the Weekly Range Low can bring price closer to a meaningful test of this sharply descending level,” he continued.

BTC’s Vulnerable Technical Environment Raises Alarms

Rekt Capital also highlighted that BTC remains below the 21-Week EMA and 50-Week EMA, which could pose a problem for its future price action as the distance between these moving averages continues to narrow.

As he detailed, when these EMAs compress and ultimately cross, it tends to precede further downside. Although it usually takes weeks after the crossover for price acceleration to “fully unfold,” it still implies that the crossover risk is increasing.

The two EMAs currently represent potential resistance levels on future relief attempts, with the 50-Week EMA retest “leaving room for a future rejection if price revisits it.”

This position, the analyst explained, places BTC in a “vulnerable technical environment” as “the convergence of the EMAs toward the Macro Downtrend creates a layered zone of resistance that will be difficult to overcome unless price can reclaim one of these moving averages and stabilise above it.”

Until Bitcoin successfully turns one of the EMAs into support, “the structure resembles the early-stage clustering seen in prior cycles where EMAs compressed before a broader bearish continuation,” the analyst concluded.

As of this writing, Bitcoin is trading at $88,294, a 2.3% increase in the daily timeframe.

While the crypto market bounces from last week’s correction, Bitcoin (BTC) is attempting to reclaim a crucial area as support to continue its recovery rally. As the flagship crypto faces some resistance, some market watchers have suggested that this week’s close may be key for its end-of-year performance.

Bitcoin Faces Rejection Ahead Of November Close

Bitcoin has retested a crucial resistance level for the first time in a week, hitting a one-week high of $93,092 on Friday morning before retracing. The flagship crypto has failed to hold crucial support levels throughout the November corrections, trading below $100,000 for nearly two weeks.

A week ago, BTC plunged below $90,000 during the latest market correction, reaching a seven-month low of $80,600. However, the cryptocurrency led this week’s broader recovery, reclaiming key levels over the past few days.

Amid its recent performance, some market observers have noted that Bitcoin is currently retesting a crucial re-accumulation region, between $82,000 and $93,000, where the price consolidated after previous pullbacks, including the Q1 market correction.

Analyst Rekt Capital highlighted that BTC rebounded more than 7% from the local bottom and has revisited the range high resistance during Friday’s recovery. Now, Bitcoin is attempting to hold the high zone of its local range, retesting the $90,000-$91,000 area as support after being rejected from the key resistance.

Previously, he pointed out that last week’s weekly close aligned with the flagship crypto’s monthly range, setting the stage for a potential floor around the $86,000 area, which would develop a new range between this level and the $93,000 resistance.

To the analyst, Bitcoin must close the week, which also coincides with November’s monthly close, above $93,5000 and turn this level into support if it wants to further build on its newfound momentum and potentially revisit its two-month downtrend line, which currently sits near the $96,000 mark.

“The ~$93500 level happens to be a Four-Year Cycle level. History suggests price should be able to find a way to 12-month close above ~$93500 to finish 2025 green,” Rekt Capital added on X.

$98,000 Rally or $88,000 Drop Next?

Market watcher Ted Pillows discussed BTC’s short-term future as it faces some resistance around the $92,000-$93,000 levels. To the analysts, reclaiming this area could propel the price towards the $98,000-$100,000 barrier in the coming weeks.

On the contrary, he suggested that failing to reclaim this level will send Bitcoin’s price below the $88,000 mark. Earlier this week, Ted warned that this was one of the most important levels to reclaim and hold as support in the short term, as a rejection from this area could trigger a significant drop below the recent lows.

Similarly, Daan Crypto Trades noted that the constant sell-off of the past few weeks has created “a ton of marginally lower highs, creating such a big liquidity pocket” between the $97,000-$98,000 zone.

This region also aligns with key horizontal price levels in bigger timeframes, making it a “good area to watch,” as BTC continues to consolidate in a relatively tight range.

The trader considers that if BTC’s price breaks down, the $88,000 mark could be a good place for a higher low. However, if the price holds above the $91,800 level, it may trigger another retest of the $93,000 resistance.

Ultimately, He warned that the market could likely see a “Choppy environment in the short-term surrounding Thanksgiving, which always sees pretty low volume & liquidity.”

As of this writing, Bitcoin is trading at $90,500, a 1.1% decline in the daily timeframe.

As the crypto market rebounds from the recent lows, Solana (SOL) has reclaimed a crucial level, nearing a key resistance area that could set the stage for a long-awaited price recovery rally, according to some market watchers.

Solana Bounces Despite ETF Outflows

The crypto market has surged above the $3 trillion mark for the first time in a week, with Bitcoin, Ethereum, and most leading cryptocurrencies reclaiming crucial support levels lost during the latest market pullback.

Solana joined the market rally and jumped from the recently recovered $135-$140 area to the upper zone of its local range on Wednesday afternoon. Notably, the altcoin has been trading between the $130-$145 price range over the past two weeks, briefly losing the lower boundary during last week’s correction.

This week, SOL’s price has reclaimed some crucial ground, surging over 10% since Monday’s opening and nearing the $145 resistance. Amid this performance, analyst Ted Pillows noted institutional participation, as SOL treasury companies have started to show early signs of recovery.

He also highlighted that Solana Exchange-Traded Funds (ETFs) have experienced record inflows this month despite the correction. According to Farside Investors’ data, the SOL-based investment products have registered $613 million in inflows since their launch on October 28.

It’s worth noting that throughout the recent pullbacks, Solana funds have seen a strong demand, with a 22-day positive streak while the altcoin’s price descended to multi-month lows.

However, as its price recovered, SOL’s ETFs registered their first negative in nearly a month. 21Shares’ TSOL, which launched a week ago, saw $34 million in outflows on Wednesday, outshining the over $13 million and $10 million in inflows of Bitwise’s BSOL and Grayscale’s GSOL. As a result, the whole category recorded net outflows of $8.1 million.

In his analysis, Ted Pillows also noted that “It seems like SOL has bottomed for a while, but institutional buying needs to accelerate here. Otherwise, it won’t take long for Solana to make new lows.”

SOL Ready For December Recovery?

Analyst Ali Martinez suggested that Solana’s pain might be over as its price “usually bottoms when investors capitulate… And for the past two weeks, that’s exactly what’s been happening.”

According to the chart, SOL’s price has historically found a floor when the Net Unrealized Profit/Loss (NUPL) indicator reaches the capitulation zone, which it has recently fallen to. Meanwhile, Crypto Patel highlighted that Solana is breaking out of a one-month downtrend, which could trigger a 25% recovery rally near the key $180 barrier in the coming weeks.

Another market observer warned that the altcoin is “walking straight into the lion’s den” as its price nears the $144-$146 resistance levels. Trader Mr. Ape noted that Solana’s price has been rejected three times from this heavy supply area, and momentum “is slowing again as we hit the zone.”

To the trader, this is the crucial level to watch, as another rejection could send the price to the $132 support, where strong demand lies from the previous bounce. On the contrary, a successful breakout from this level and reclaiming it as support could confirm the shift and trigger a surge to the $157 area.

As of this writing, Solana is trading at $142, a 7.7% increase on the weekly timeframe.