Technical analysis by weslad about Symbol BTC on 1/2/2026

Bitcoin remains in a declining phase within a broadening wedge, while current price action is compressing into a clear pennant structure, signaling that a high-volatility expansion is approaching. This is a reaction-based setup, not a prediction. The plan is straightforward: • Trade the pennant breakout once direction is confirmed. • Bearish resolution opens a move toward the $72K demand zone. • Bullish expansion targets the $109K resistance region. Both scenarios are fully mapped on the chart to allow real-time interaction as price unfolds. Let the market choose the direction confirmation over anticipation. Watch the breakout closely and manage risk accordingly. It's a new year share your Alts for quick analysis for the January requests.Bitcoin remains range-bound between the 92,000 resistance and the 87,000 support, with price still consolidating inside this well-defined structure. The broader directional bias will be determined by the eventual breakout from this range, as a decisive move above 92,000 would signal bullish continuation, while a breakdown below 87,000 would expose lower liquidity zones and confirm bearish expansion.BTC is currently testing a key resistance zone. Patience is required at this level, as the next directional move will define market bias. A confirmed breakout would significantly strengthen the bullish outlook, while a rejection from this zone could introduce renewed downside pressure.