Bitcoin on Brink of Next Leg Up Towards $92K or $97K

An analyst believes Bitcoin still has room to climb towards $92,000 or even $97,000, but only if it holds onto a narrow support band just above $81,000.

The expert pointed out three signs that are in Bitcoin's favour. Firstly, the cryptocurrency continues to trade above its May high near $82,800. Secondly, monthly closes above the 50-week simple moving average have marked the start of a bull market in the past. Finally, the decline 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. As long as Bitcoin stays above this zone, the path to higher prices remains open. However, if this zone breaks, the next levels to watch are $78,200, where the 50-week moving average currently sits, and $75,000.

The analyst believes that breaking above its October 2 high would signal the start of the next leg up. For now, there is no clear confirmation. Bitcoin is trading in a range, which does not have a clear trend.