Bitcoin Analyst Sees $92,000 or $97,000 Target if Support Holds

An analyst is predicting that Bitcoin could reach $92,000 or $97,000 this week, but only if it holds above a narrow support band just above $81,000.

The uptrend that began in July remains intact, according to the expert, who pointed to three signs in Bitcoin's favor.

Firstly, Bitcoin continues to trade above the May high near $82,800. Secondly, the monthly close above the 50-week simple moving average has marked the start of a bull market in the past. Thirdly, the downtrend that started in October 2025 ended when Bitcoin broke above its last major high.

The important area for support is between $81,600 and $82,937. If Bitcoin stays above this zone, the path to higher prices remains open. However, if it breaks, the next levels to watch are $78,200 and $75,000.

The analyst believes that Bitcoin needs to break above its October 2 high to signal the next leg up has started. For now, there is no clear confirmation, and the bounce from the September 28 low came in three steps, a pattern that usually signals a weak recovery.

The short-term trend that began on September 16 remains unbroken, and the analyst has not called a top at any point in this rally. They consider one more high 'very likely'.

The analyst expects a pullback into a wider support zone between $63,326 and $74,800 once a top does form. This could set up a higher low before the next advance toward all-time highs.