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A closely followed analyst says Bitcoin is slowly trying to make its way back to a key price level.
In a series of posts on X, Rekt Capital says BTC crossed into oversold territory on its nosedive to nearly $80,000.
In addition, BTC’s weekly close was above $86,000, which the pseudonymous analyst calls an area of historical demand.
Moving forward, he’s now looking for a bump from $86,474 at time of publishing to a key level at $93,000.
But he warns it could take until the end of December to materialize, with trouble coming in 2026.
“The fact that Bitcoin is now hovering below the Four Year Cycle level of $93,000 is likely an indication of how overextended this current retrace really is.
History suggests the price should be able to end 2025 with a green candle, by closing above $93,000 before lapsing completely in 2026.”
Ultimately, Rekt says BTC will need to surpass the downtrend resistance level at around $103,000 to show that bulls have real momentum.
