The year 2026 is a bearish year. The market is in a recovery phase. Bitcoin started to decline after reaching 126k in October. Many believed that after dropping to 80k it would hold that level and soon fly to 200k. Thinking that way is naive. A few days ago, Bitcoin dropped as much as it had gained over three years since 2023, reaching 59k.
Buyers stepped in quickly and the price managed to recover to 72k. Now we are once again in free fall and panic has taken over the market.
So what comes next?
In image A you can see a red line. That area was the first major crash level for Bitcoin.
Will it recover from this point? It may see a bounce toward 70k, but I believe it could reach the level shown in image B.
In image B, the price may consolidate for a period between 55k and 52k.
From that zone, it could move up sharply.
However, if it drops below 50k, it will likely reach the level shown in image C.
In image C, the price could consolidate between 36k and 24k.
What matters is that the start of this year is controlled by bears, and the market is in a dark phase where many coins will decline and many others will disappear.
It is important to manage every move carefully during this period, because bears show no mercy.
