Technical analysis by OnchainNewsBlog about Symbol BTC: Buy recommendation (1/4/2026)

Bitcoin is clearly pumping on the weekly, and that’s constructive to see after the recent pullback. Momentum has picked up, and the bounce off the lows shows that buyers are still very much present in this market. That said, it’s important not to get distracted by the green candles alone. Price is currently sitting near the middle of the larger higher-timeframe range, around the dotted line area. This is not a breakout zone, it’s the heart of the range where chop and back-and-forth price action are most common. Structurally, Bitcoin is still consolidating between major resistance near the 108k area and major support down around 73k. Until price can decisively reclaim the upper range and build acceptance above it, this remains a choppy environment rather than a clean trend. This is exactly why buying dips has worked well, while chasing strength in the middle of the range tends to be lower quality. Pumps inside ranges feel exciting, but they often fade back into value just as quickly. So while the current move higher is a positive sign, the broader context hasn’t changed yet. We’re still in chop land, and patience plus disciplined dip buying continues to be the higher probability approach until the range resolves.