Bitcoin Could Test 93000 Territory: Here's What Technical Charts Reveal About Ethereum and Altcoin Turning Points

The 93000 Level: A Critical Path for Bitcoin’s September Movement

Bitcoin’s weekly Moving Average 60 has established a significant support zone, with technical projections pointing toward the 93000 level materializing between September 5-11 and mid-September 15. The CME gap at this price level represents more than just a technical quirk—it reflects accumulated liquidity that often attracts price action. Current BTC price sits at $87.62K, down 0.33% in 24 hours, but the broader framework suggests this intermediate range will be tested before any decisive breakout occurs.

The resistance ceiling remains fixed at 123,218, establishing a defined trading range for the month ahead. This methodology combines moving average analysis with gap theory to create a structured roadmap for price discovery.

Ethereum: Measuring Distance to the Peak as Technical Indicators Flash Yellow

Ethereum is currently navigating what technical analysts describe as the final wave of an extended rally phase. The StochRSI indicator becomes the primary signal for peak identification—specifically when readings approach or exceed the 90-100 range, with 98-100 being the critical threshold where the fifth wave typically culminates.

Current ETH price: $2.93K, displaying a -0.61% 24-hour decline.

On the monthly chart, the upper Bollinger Band sits at the 4,280-4,320 zone, with potential extreme extensions reaching 4,484.67 and theoretically 4,817.57. However, the psychological and technical ceiling remains firmly planted at 5,183.39—a level unlikely to be breached in this cycle.

Recent position management involved clearing long positions at 3,935 (noting a profitable exit from the 3,350 bottom call), while short positions established at 3,990-4,050-4,090 experienced stop-losses totaling a 3% drawdown. The strategy now requires patience: short positions will be re-entered only after peak confirmation or if the market genuinely reaches the 4,484-4,817 extension zone, preferably after the StochRSI crests before August 11.

Altcoins at the Upper Resistance: The Window to De-Risk Is Closing

This represents the final realistic opportunity for holders to exit altcoin positions with favorable exits. Spot position holders are advised to clear holdings at current levels—the upper Keltner Channel band on the daily chart is functioning as a distribution zone.

The altcoin cycle that initiated in April appears to have exhausted its primary uptrend. The expected pathway includes: a rebound to the upper Bollinger Band (4-hour), a pullback to the lower band (daily), followed by a recovery toward the middle Bollinger Band and upper Keltner Channel—where secondary highs form before distribution accelerates.

Specific altcoin signals:

• Solana (SOL), current price $122.39 (-0.65% 24H): Bottomed at 155.64, rallied to 179 with partial profit-taking, and reached the upper daily KC Band target of 181-182 as projected. Short positions were initiated at this resistance level.

• XRP, current price $1.86 (-0.69% 24H): Remains in profitable short territory from yesterday’s entry, with additional positions planned if the rebound continues toward the upper daily KC Band.

• Sui (SUI), current price $1.40 (-0.63% 24H): Short entries were established in the 3.85-3.98 zone near upper channel resistance, with the upper daily KC Band continuing to function as the distribution point.

Multiple additional altcoin short positions have been structured around the upper Keltner Channel band on daily timeframes, with the core thesis that most alts will fail to exceed the July 22 highs during the rebound phase.

Technical Mastery Through Structured Learning: Building Independent Market Perspective

Effective trading requires more than indicator fluency—it demands a framework that integrates wave theory, Elliott patterns, Wyckoff methodology, and Gann principles into a cohesive analysis system. The BBI+KC reversal channel and DC cycle concepts provide the structural foundation, while advanced CCI trend analysis and optimized Fibonacci fan speed-resistance lines serve as confirmation layers.

The motivation for sustained market education lies in recognizing that each market cycle—bull or bear—presents unique learning laboratories. During accumulation phases, knowledge compounds into edge. During distribution phases, that accumulated understanding becomes the difference between consistent profitability and account drawdown.

True trading independence emerges not from blindly following signals, but from internalizing principles so thoroughly that market interpretation becomes intuitive. This transformation requires deliberate practice and intellectual rigor—turning external knowledge into internalized market sense.

For those committed to developing this capacity, the novice trading community welcomes participants who prioritize independent thinking over herd mentality, who recognize risk awareness as the foundational “lantern” navigating through market fog, and who commit to learning through market cycles rather than chasing trends.