- The longer we go sideways, the more likely it is that we see confidence come back to BTC markets.
BTCUSD
Bitcoin has rallied on Friday as it looks like we are continuing to see a bit of accumulation. All things being equal, I still believe that the Bitcoin market will probably bounce sooner or later, but we probably will probably have to spend some time going sideways in order to build up confidence.
The longer we go sideways, the more confident people will be and the more comfortable putting money back into the market. It will be interesting to see what the institutions do with this because they will get back to work more or less next week.
Key Technical Levels
The market will be watching very closely at the $94,000 level. If we do in fact rally from the $94,000 level, then it opens up the possibility of the market going all the way to the $108,000 level, an area that had been important previously.
Top Regulated Brokers
If you watched the video for the 2026 Bitcoin outlook I did on New Year’s Day, you know that my base case scenario is that we are very quiet for a couple of months and then try to get towards that area, probably sometime in the next couple of weeks, going into spring, possibly, and then hang out for a while.
Later in the year, I do expect Bitcoin to pick up. This will probably coincide with central bank actions, but right now, it looks like we are still very much in that accumulation and basing phase. With that being the case, this is a market that I think you have to be cautiously optimistic on, but I wouldn’t necessarily go all in right away.
If we were to break down below the $80,000 level, that blows a hole in the bullish narrative completely. But one thing that traders seem to forget is if you go back just three years, we’re still massively higher than where we started. Unfortunately, there's more hype and drama around Bitcoin than anything else.
Potential signal: I am buying BTC at $94,000 with a stop at $92,000. Aiming for a return to $108,000.
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