Bitcoin bulls renewed pressure on range highs with the 2026 yearly open forming the next key resistance to break through.
Bitcoin (BTC) is eyeing a key level as BTC/USD is on the cusp of turning the 2026 yearly candle green.
Bitcoin continues to battle range highs after sealing its highest weekly close since late January at $86,532 on Bitstamp. Data from TradingView shows brief wicks to $87,000 after the weekly close, as part of Bitcoin’s fourth attempt to break higher since Sept. 21. Bulls have so far failed to reclaim the yearly open at $87,570.
On lower time frames, liquidity hunts continue to dictate price action. Similar to last week, BTC/USD saw liquidations of nearby short positions around $85,500, while walls of bids and asks thickened around spot price, keeping volatility constricted. Data from CoinGlass shows concentrations at $83,700 in addition to the yearly open.
“Bitcoin continues to be sandwiched between the ~ $82500 key support and the ~ $86700 resistance ahead,” trader and analyst Rekt Capital wrote in his latest X analysis.
Rekt Capital sees $82,500 as key support to avoid revisiting the previous 2026 range between $60,000 and $80,000. A decisive move above $86,700, meanwhile, would open up the path to a higher range with $93,700 as its ceiling.
A comparatively light week of macro data in the US will put bond markets at the forefront as traders have discounted the odds of the Federal Reserve hiking interest rates.
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