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Bitcoin broke out of a major vertical channel.
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A poll found that 75% of respondents expect to see a new high-water mark between 2026-2027.
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The next phase of Bitcoin’s price development will depend on the Bitcoin price breaking above $100,000.
Renowned cryptocurrency analyst PlanB on X launched a poll to ask his followers if Bitcoin would reach a new record high in 2026. The question suggests that the crypto-analyst suspects that cryptocurrency could embark on a significant rally during this cycle.
Over 75% of users are bullish on Bitcoin’s price
PlanB’s poll had about 10 hours left and received over 15,500 votes. This shows that 75.8% of participants voted yes. This reflects the overwhelming sentiment among cryptocurrency users, who believe that the Bitcoin rally is likely to continue. It is important to note that the voting coincided with the vertical breakout of Bitcoin, which saw it break out from a horizontal channel started in November last.
TradingView data shows that Bitcoin bounced from support at $89199 after pulling back in the first week of January from an initial rally. The pullback pushed the pioneer cryptocurrency to the supply zone. This led to a rebound which has yielded nearly 10% profit over the past seven day.
BTCUSD Daily Chart at TradingView
Bitcoin’s Classic Bull Run Setup
Multiple indicators suggest that Bitcoin’s recent resurgence is a classic case of a sustained bull run. To boost traders’ confidence, and align with PlanB’s majority followers, the cryptocurrency must meet other conditions.
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The latest pullbacks, accumulations, and rebounds all occurred around a Fibonacci level that is crucial. Breaking above this level signifies a notable strength in the current rally. Bitcoin faces more significant resistance levels including another Fibonacci level and the psychological $100,000 landmark. TradingView’s data shows that BTC was trading for $96,765 when this article was written, after testing the 0.382 Fibonacci level at $98,120.
A confirmed break above these level will boost traders’ confidence, and increase the bullish mood around Bitcoin. It is important to note that Bitcoin’s all-time price high remains at $126,272, which is not far from its current price level.
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