Bitcoin (BTC) is still in line for new long-term lows as analysis dismisses recent BTC price gains as a bearish “reset.”
Key points:
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Bitcoin bears appear in control on shorter and longer timeframes as traders see no reason to alter bearish takes.
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One forecast maintains that BTC price will return to last April’s lows of about $75,000.
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A break through the 2026 open may be required for market consolidation.
Bitcoin trader says $76,000 “is coming”
Bitcoin traders are struggling to construct a bull case based on BTC price behavior so far in 2026.
After almost reaching $95,000, BTC/USD is back near its yearly open, per data from TradingView, threatening to give up $90,000 on intraday timeframes.
“The first breakout attempt for $BTC is a certified rejection,” Keith Alan, cofounder of trading resource Material Indicators, wrote in a response on X.
Alan, who this week warned of bearish forces playing out on high timeframes, said that “sights are set on a cluster of technical support in the $87.5k – $89k range.”
“With a macro Death Cross developing on the Weekly chart later this month, I view any pump we may get from here as a sell the rip event, until I see any evidence why it shouldn’t be,” he added.
BTC/USD one-day chart. Source: Keith Alan/XAlan is far from alone when it comes to misgivings about BTC price strength.
Trader Roman, who warned about a macro breakdown on BTC/USD throughout 2025, has doubled down on a near-term target of $76,000, a level last seen in April.
“Now at 89k and lower coming,” he told X followers Thursday.
BTC/USD three-day chart. Source: Cointelegraph/TradingViewBTC price rebound: No pain, no gain
Continuing, others found little reason to believe that the January trading range would remain intact going forward, instead favoring fresh volatility.
Related: Bitcoin price may bottom at $88K next cycle if last CME gap stays open
“As we speak, it is unlikely that the monthly low (and high) holds,” trader Daan Crypto Trades wrote in an X post.
BTC/USD one-hour chart. Source: Daan Crypto Trades/XJanuary’s low currently stands at just under $87,500. Daan Crypto Trades argued that it would, in fact, be better for BTC/USD to break below it to form a firmer foundation for a long-term rebound.
“Personally I’d prefer it more if we took out those lows to get all these warnings out of the way so price can start finding a floor later on. Otherwise you just risk reversing later on anyways,” he added.
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Source: https://cointelegraph.com/news/bitcoin-trader-maintains-76k-btc-price-target-as-2026-comeback-fizzles?utm_source=rss_feed&utm_medium=feed&utm_campaign=rss_partner_inbound
