Bitcoin once surged to around 125,400, hitting a new all-time high. Many are wondering—can it continue to rise in 2026? To be honest, I think the probability is not very high.

From the yearly chart, BTC has already formed a long upper shadow. What does this indicate? The bulls are no longer able to push prices higher at this level. Although the news sentiment remains hot, the market momentum shows signs of fatigue.

Switching to the four-hour timeframe, the Bollinger Bands are now tightening. The range of oscillation is getting smaller and smaller, as if something is brewing. The resistance above is at 88,700, and the support below is at 86,800. If both levels cannot hold, we’ll need to look for lower support levels.

At the current pace, a strategy of buying high and selling low could be considered. Specifically, if the price retraces to around 87,000, it might be a good entry point for longs. If it rebounds to 88,500, it could signal a short opportunity. The profit range during consolidation is roughly 1,500 points. Of course, this is just a technical reference; actual trading should be based on your risk tolerance.

ETH is also worth paying attention to, as its movements often reflect market expectations ahead of the broader market.