- Bitcoin has broken out of a major horizontal channel.
- Over 75% of respondents to a poll expect a new all-time high between 2026 and 2027.
- Breaking above $100,000 will be crucial for the next phase of Bitcoin price development.
Renowned cryptocurrency analyst “PlanB” on X has launched a poll asking his followers if Bitcoin will achieve a new all-time high in 2026 or 2027. The question posed suggests that the crypto analyst suspects that the cryptocurrency could embark on another significant rally during the current cycle.
Over 75% Users are Bullish on Bitcoin’s Price
With about 10 hours to go and over 15,500 votes, 75.8% of participants in PlanB’s poll voted yes, reflecting a dominant sentiment among cryptocurrency users that the Bitcoin rally will continue. It is worth noting that the voting process coincided with a vertical breakout by Bitcoin, which saw the cryptocurrency break out of a horizontal channel that started in November last year.
According to data from TradingView, Bitcoin bounced off support at $89,199 after pulling back from an initial rally in the first week of January. The pullback launched the pioneer cryptocurrency into the supply zone, leading to a rebound that has fetched nearly 10% profit in the past seven days.
BTCUSD Daily Chart on TradingView
Bitcoin’s Classic Bull Run Setup
Multiple indicators surrounding Bitcoin’s latest resurgence suggest a classic scenario of a sustainable bull run. However, the cryptocurrency needs to satisfy other conditions to boost traders’ confidence and align with the opinion of the majority of PlanB’s followers.
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The latest pullback, accumulation, and rebound happened around a crucial Fibonacci level, breaking above which signifies notable strength in the current rally. However, Bitcoin is confronted with more significant resistance levels, including another Fibonacci resistance and the psychological $100,000 milestone. TradingView’s data reveals that BTC traded for $96,765 at the time of writing after testing the 0.382 Fibonacci resistance at $98,120.
A confirmed break above these levels will boost traders’ confidence and increase the bullish sentiment around Bitcoin. In the meantime, it is worth noting that Bitcoin’s current all-time high remains at $126,272, a region not far from the current price level by the cryptocurrency’s standards.
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Source: https://coinedition.com/will-bitcoin-make-a-new-all-time-high-soon-heres-what-users-think/
