[Analysis] “Bitcoin enters $93,500 retest phase…weekly hold is the key inflection point”

Bitcoin (BTC), after facing resistance at a key bullish trendline, has entered a retest zone to assess the validity of the breakout.

On the 20th (local time), virtual asset (cryptocurrency) analyst Rekt Capital said on X, “Bitcoin is facing resistance in a cluster of multiple exponential moving averages (EMAs) that define the bull-market zone, and is showing a ‘post-breakout retest’ move around the $93,500 level.”

On a weekly chart basis, Bitcoin closed slightly above $93,500, showing a pattern more similar to the weekly close action in April 2025 than in November 2024, the analysis said. At the time as well, Bitcoin maintained that price area on a weekly basis before continuing its trend.

In the near term, however, the key variable is whether it can reclaim the $93,500 zone and flip it into support. The analyst assessed, “If $93,500 is not recaptured this week, confidence in the weekly range breakout could weaken.”