Key Insights:
- Bitcoin stalls at $93K resistance as bulls push for a breakout toward the $100K range.
- US and EU sessions are net buyers this week, while Asia continues steady BTC selling.
- Whale 0x0ddf9 closes $91M short, re-enters with a 3x BTC long near breakeven.
Bitcoin was trading close to $91,500 after a strong recovery from last week’s dip. The area between $92,000 and $93,000 is acting as immediate resistance. This zone has been tested multiple times, and traders are watching to see if the price can break above it.
If Bitcoin clears this level, the next zones of interest are $97,000, $99,000, and $101,000. These levels match previous price reactions, where the market saw high activity. If Bitcoin fails to move higher, the price could fall back toward the $88,000 support level. A drop below this range could pull the market further toward $82,000–$81,000.
Buyers Active in the West, Sellers in the East
New trading session data shows that US and EU sessions have been buying Bitcoin this week. Cumulative return data shows both regions gaining close to 10% over the last six days. In contrast, Asia has stayed in negative territory, showing consistent net selling.
The chart shows clear separation. The US session is leading with stronger momentum. The EU session is close behind. Meanwhile, the Asia session line remains below zero and hasn’t shown signs of reversal.
As Ted noted,
Source: Ted/XWhale Reverses: $91M Short Closed, $91M Long Opened
A large trader with wallet address 0x0ddf9 has closed a $91 million short and opened a long of the same size. The short was closed at a $1.6 million loss. The new long position, opened with 3x leverage, was entered at $91,437. The liquidation price for this trade is $59,112.
The current position is showing an unrealized gain of just over $207,000. Margin usage is above 91%, which means the position is heavily leveraged. The switch from short to long with the same exposure shows a complete directional shift. The trader appears to be positioning for a breakout past $93,000.
Bitcoin Price Levels to Watch
Bitcoin’s price was sitting just under resistance. If bulls reclaim the $93,000 zone, targets up to $101,000 are back in play. However, if the price gets rejected again, support around $88,000 becomes the next test. Below that, $82,000 remains the lower level to hold.
With net buying from US and EU sessions and large leveraged trades returning, short-term price action will likely decide the next move.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
Source: https://coincu.com/analysis/bitcoin-eyes-100k-can-bulls-break-93k-resistance/
