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A popular market analyst has shared two possible price trajectories for Bitcoin following the asset’s bullish start to 2026. In the past three days, the premier cryptocurrency has gained by 3.4% to trade at $90,500. Bitcoin now lies at a decision point as multiple implications hinge on the next price move.
$123,500 Rebound Or $86,000 Pullback: What Next For Bitcoin?
In an X post on January 3, pseudonymous analyst Bitcoin Meraklisi shares a two-pronged price analysis of the Bitcoin market. Following its recent rally, the expert explains that Bitcoin sits on top of a three-month downtrend, putting the asset at a decision point. In the bullish scenario of a decisive and convincing breakout past $90,500, Bitcoin is expected to immediately reach $94,800. If this target is met, there would be a strong potential to trade as high as $107,300, moving Bitcoin into the six-figure zones for the first time since mid-November.
With an overwhelming bullish conviction, Meraklisi states that the premier cryptocurrency could also rebound to $123,500, representing a potential 36.5% on present market prices. On the other hand, if Bitcoin experiences another rejection, the analyst explains investors should expect an initial price drop to $88,000. However, a continued pullback to around $86,000 also remains on the card.
Interestingly, Bitcoin Meraklisi notes that price prediction is presently difficult, considering the market’s heightened sensitivity to macroeconomic and external events. Over the past year, Bitcoin continued to experience growing adoption, reflected in rising institutional and government participation. However, the premier cryptocurrency has also suffered price declines due to geopolitical tensions and renewed trade-war concerns
Bitcoin RSI Flashes Positive Signal
Amid the present market uncertainty, Meraklisi also notes that the Bitcoin relative strength index is showing a positive market signal after breaking out of an ascending triangle pattern to end a 3-month downtrend. If treated as a leading signal, this RSI breakout suggests that Bitcoin may overcome its current resistance level and potentially transition into a bullish price trajectory.
At press time, the premier cryptocurrency is valued at $90,603, reflecting market gains of 0.76% and 3.13% in the last one and seven days, respectively. However, the monthly chart reports a minor loss of 1.68%, suggesting the market recovery is yet to commence. Bitcoin boasts a total market cap of $1.8 trillion and is ranked the largest cryptocurrency and eight largest asset in the world.
