Bitcoin Technical Analysis - Is the Market Turning Bullish?
Hello everyone,
How are you all? I hope everyone is fine and doing great in their life.
It has been a long time since I last did a market analysis, and I think today is the right time because the market is once again trying to shape up for a good run ahead. People have already started talking about a possible bull run in 2026.
Even Changpeng Zhao has hinted that he believes 2026 could be a better year for crypto. But at the end of the day, those are just opinions for now because the market has become much more mature, and we have to focus on the technical side of things instead of getting carried away by hype.
Let us quickly analyze the market by looking at the Bitcoin chart on the one day time frame. In the screenshot below, you can see the same chart that we have always used to analyze Bitcoin, and honestly, it still looks very beautiful to me because it continues to respect the levels we marked long ago.
Right now, Bitcoin is trading above the purple support box, which is a very important support area. Even after dumping from around 92.8K to nearly 80.5K, Bitcoin managed to hold that support zone strongly and bounce back. At the moment, Bitcoin is trading around 81.9K.
Now the big question is where Bitcoin can actually go from here. While many people are talking about Bitcoin reaching 200K or even higher, we also have to stay realistic. Such moves are not going to happen overnight or even within a few months. Bitcoin is now part of a much more mature market compared to previous cycles, and major moves will take time.
The most important thing right now is the resistance level ahead. The next major resistance is between 83.5K and 84.5K, and that is the zone we really need to watch carefully.
Bitcoin can definitely test this area and even reject from there, and honestly, that would still be considered a healthy move because Bitcoin has already bounced from nearly 65K to above 82K within approximately a month. So there is no reason to panic if we see some rejection around that resistance area.
If Bitcoin manages to break and sustain above the 83.5K to 84.5K resistance zone, then the next possible targets could be the micro resistance levels around 86.5K and 89.5K. However, expecting Bitcoin to immediately rally towards 100K right now may not be the most realistic expectation.
Overall, the market structure still looks positive to me as long as Bitcoin continues holding above the major support zone. The coming days will be very important because they will decide whether Bitcoin builds enough momentum for another leg upward or moves into a temporary consolidation phase before the next major move.
What are your thoughts on the market right now? Do let me know in the comments.
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I also played Splinterlands but I prefer to write a whole separate blog for that as it needs better explanation.
Thank You