Ethan Juan's Bitcoin Price Roadmap: Can Bulls Achieve the $94,000 Breakthrough?

Bitcoin’s recent price action demonstrates a fascinating interplay between bullish defense and bearish pressure. According to technical analysis framework by Ethan Juan, the current market situation reflects a critical juncture where bulls must demonstrate sustained conviction to maintain upward momentum. Last week proved pivotal—the price successfully held above $85,000 support, closing at $88,656 and now hovering around $88.41K, validating the bullish thesis for near-term continuation. However, the path forward requires careful navigation through multiple resistance layers and technical resistance structures.

The broadening wedge pattern that has dominated Bitcoin’s weekly chart for several weeks now presents an intriguing dynamic. As Ethan Juan’s analysis notes, the lower trend line of this pattern has compressed significantly, suggesting that price action should decisively move above it in the coming sessions. Failure to achieve this breakthrough would signal weakness and potentially trigger a deeper pullback into the $70,000s range, but current momentum suggests bulls retain the upper hand in this technical battleground.

Decoding Current Support Architecture and Defense Levels

Understanding the layered support structure is essential for traders tracking Bitcoin’s trajectory. The $84,000 level continues to prove its mettle, holding strong once again during recent volatility. This resilient support serves as the primary line of defense against more aggressive selling pressure.

Should this critical level eventually fail, the analysis framework identifies a secondary support zone spanning from $72,000 down to $68,000—a range that should provide initial support on the first test. The deeper protective level exists at the 0.618 Fibonacci retracement point, sitting around $57,000. This Fibonacci level, derived from the golden ratio (phi: 0.618) that governs growth and decay cycles in nature, represents the ultimate downside safety net before confronting potentially more severe losses.

Navigating the Resistance Hierarchy: From $91K Through the $100K Zone

The bull case hinges on successively conquering resistance levels. Ethan Juan’s technical framework identifies an immediate resistance target at $91,400, with the significant $94,000 level serving as the next hurdle. Successfully clearing $94,000 would represent a psychological and technical watershed moment for bulls.

Above $94,000, substantial resistance emerges at $98,000. Pushing through this obstacle would bring attention to the formidable resistance cluster spanning from $101,000 all the way to $108,000—a zone where rejection should be expected given its thickness and historical significance. The $100,000 psychological level represents perhaps the most closely watched price target in cryptocurrency markets. Breaking above $108,000 would fundamentally alter the long-term technical picture, severely undermining any thesis that a major top has been established.

Near-Term Price Dynamics: Weekly Momentum Expectations

Current market conditions present an interesting backdrop for price action. With liquidity potentially constrained in the current period (compared to typical trading volumes), price movements could lack the dramatic swings of busier trading seasons. However, a significant technical catalyst looms through large long-dated Bitcoin options expirations, with max pain pricing concentrated near the $100,000 level. This options expiration dynamic frequently influences price action as market participants position around these strike levels.

The bearish sentiment that dominated headlines recently appears to be weakening. Bears have grown increasingly frustrated after failing to breach the $84,000 support level, while bulls—emboldened by successful defense of this key level—are expected to push back with greater conviction. Ethan Juan’s analysis suggests that the psychological shift from defensive posturing to offensive price advancement could gather momentum this week, potentially driving Bitcoin toward that psychologically critical $100,000 area.

Multi-Week Outlook: The Path to Sustained Momentum

Looking beyond the immediate week-to-week tactical battle, the strategic picture becomes clearer. If bulls can finally overcome the $94,000 resistance over the next few weeks, genuine upward momentum could establish itself, potentially carrying through into a stronger year-end/new-year transition. A weekly close above $94,000 would trigger the next phase of the bull thesis, with bulls likely targeting $101,000 as the next technical objective.

Should momentum persist and price closes above $100,000, the psychology shifts dramatically. The move toward $108,000 becomes conceivable, though resistance at this level should be formidable. Market participants should anticipate strong rejection if price reaches the $108,000 cluster, as this represents the intersection of multiple technical and psychological barriers. According to Ethan Juan’s framework, this region presents the final major test before questioning whether a definitive long-term top has truly been established.

Reading the Technical Blueprint: Tools of the Analysis Trade

To fully appreciate the analysis presented, understanding the technical vocabulary proves essential. Bulls represent buyers or investors positioned for higher prices, while bears are sellers anticipating further declines. Support levels denote price areas where buying should emerge to arrest downside moves, though repeated tests weaken support zones through exhaustion of willing buyers. Resistance represents the mirror image—price levels where sellers should emerge, and repeated touches erode these barriers as sellers become depleted.

The broadening wedge pattern consists of an upper trend line acting as resistance and a lower trend line serving as support, with these lines diverging away from each other—a configuration that reflects expanding volatility and typically produces higher highs and lower lows sequentially. Fibonacci retracements and extensions derive from the golden ratio (phi: 1.618 for growth, 0.618 for retracements), universal mathematical principles observed throughout natural growth and decay cycles. These ratios have proven remarkably effective for identifying potential support and resistance levels across cryptocurrency markets.

Ethan Juan’s technical analysis synthesizes these tools into a coherent framework for navigating Bitcoin’s complex price dynamics, offering market participants a systematic approach to identifying key levels and anticipating directional shifts during periods of elevated uncertainty.