Bitcoin Bulls Target $91,000 as Early 2026 Rally Gains Momentum

Bitcoin is making a concerted effort to reach the $91,000 mark, supported by significant trading volumes that indicate positive expectations for the first quarter of the year.

Key Insights:

Bitcoin encountered resistance at $93,000 for the third occasion, retreating towards weekly lows around $89,250.
An increase in open interest during the drop suggests short positions are being established near $90,000.
Strong buy orders near $90,000 could serve as either a launchpad for recovery or open the path to the $86,000-$87,000 range.

Bitcoin Needs to Maintain $90,000

Following an 8% jump to $93,000, Bitcoin (BTC) formed a swing failure pattern (SFP) at the same resistance level, leading to a decline towards weekly lows near $89,250. This situation raises concerns regarding consolidation or a bearish trend continuation as per the overarching higher-time-frame (HTF) trend. Still, the lower-time-frame (LTF) analysis suggests a bullish rebound could be plausible. Currently, Bitcoin is testing a key support area between $89,200 and $90,500, where bulls might seek fresh long positions if upward momentum is established.

Additionally, Bitcoin remains above the monthly average volume-weighted price (VWAP), which indicated bullish momentum at the beginning of 2026. In the immediate future, Bitcoin may trade sideways until the end of the week. A strong bullish recovery above $91,666 would signify a continuation of the bullish trend, establishing a higher low on the LTF analysis, thus potentially trapping late shorts positioned between $90,000 and $92,000.

Passive Bids Flood the Order Book

According to data from CoinGlass, a significant number of passive bids are appearing around the $90,000 mark in the order book liquidity delta. Historical data suggests that similar bid absorption has usually been followed by short-term recoveries, indicating that this pattern may reemerge if buying activity continues to support this level.

However, futures trader Byzantine General warns that growing open interest may signal potential volatility ahead. He states, “Liquidations data indicates there are many vulnerable long positions present. A bounce at 90k is feasible, but taking out the local lows near 86k seems likely.”

This article is solely informational and does not constitute investment advice. Readers should conduct their own research before making any financial decisions.