Bitcoin’s 2026 Comeback Hits Resistance
Bitcoin’s attempt to regain bullish momentum in early 2026 has stalled, with price action failing to break through the critical $95,000 resistance zone. After briefly rallying, BTC has retraced close to its yearly open, reviving bearish sentiment among traders who argue the move was nothing more than a temporary reset.
At the time of writing, Bitcoin is hovering around the $90,000 region, a level increasingly viewed as fragile support rather than a springboard for further upside.
Traders Reaffirm Bearish Outlook
Several well-followed market participants see little reason to abandon their bearish bias. Keith Alan, cofounder of Material Indicators, described Bitcoin’s recent rally as a “certified rejection,” highlighting a growing cluster of technical support between $87,500 and $89,000.
More concerning for bulls is the potential development of a macro death cross on the weekly chart, a signal that historically aligns with extended periods of consolidation or further downside. Until higher timeframes show evidence of trend reversal, many traders continue to treat short-term rallies as opportunities to reduce exposure.
$76,000 Target Remains in Play
Veteran trader Roman has doubled down on his long-standing forecast that Bitcoin will revisit the $76,000 level — a price last seen in April of the previous cycle. According to his analysis, the prolonged sideways movement since late 2025 represents distribution rather than accumulation.
From this perspective, Bitcoin’s failure to establish higher highs suggests that downside risk remains unresolved, and that a deeper retracement may be necessary before a sustainable long-term base can form.
Volatility May Be Necessary for a Stronger Base
Not all bearish takes are pessimistic in intent. Some analysts argue that taking out local lows could actually strengthen Bitcoin’s longer-term structure. Trader Daan Crypto Trades noted that recent monthly candles lack the downside wicks typically seen in healthy market resets.
Historically, Bitcoin has tended to form stronger recoveries after flushing weak hands and retesting lower support zones. A break below January’s lows near $87,500 could, paradoxically, pave the way for a more durable recovery later in 2026.
Market at a Crossroads
With momentum indicators weakening and macro uncertainty still present, Bitcoin appears caught between short-term bearish pressure and longer-term structural optimism. Whether BTC holds current support or dips toward the mid-$70,000 range may determine how quickly confidence returns — and how strong the next expansion phase ultimately becomes.
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