Technical analysis by ScottMelker about Symbol BTC on 1/8/2026

Bitcoin continues to pull back following last week’s breakout, with price now appearing to gravitate toward the daily 50 moving average. This type of retracement is common after impulsive moves higher, as markets often revert toward the mean before resuming trend. Importantly, this pullback remains controlled and does not yet show signs of aggressive selling. A successful retest of the 50 MA would be consistent with healthy trend behavior and could provide a base for continuation. Conversely, failure to hold this area would suggest the market needs additional time to consolidate before attempting higher prices.