Technical analysis by ScottMelker about Symbol BTC: Buy recommendation (1/7/2026)

After pushing higher earlier in the week, Bitcoin is now seeing its first meaningful pullback since the breakout. Importantly, price remains well-contained within the ascending channel and above former resistance, suggesting this move is corrective rather than impulsive. This type of consolidation is typical in healthy trends, as the market tests whether higher prices are accepted. As long as Bitcoin continues to hold above the breakout area, the broader structure remains constructive. A deeper pullback would only become a concern if price were to lose the channel and slip back into the prior range.