Bitcoins’ return to $100,000 is still a popular target One bearish view argues the move has become less realistic as the price action weakening Prices below $80,000
The outlook is bearish came from Alex Mason is a crypto analyst who posts on social media as X. He predicted that Bitcoin’s price will not reach $100,000 this year, because it has been trapped in a channel ascending.
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Bitcoin’s Ascending Channel Could Have Been a Trap
Bitcoin’s price hasn’t risen above $100,000 since 2026. And with the calendar approaching the end of the year the timeline for an increase to six figures is now accelerating. is shrinking fast. Bitcoin’s price has been characterized by a gradual ascending channel over the last two months, as it formed higher highs and lower lows since its low in February just below $60,000. The upper boundary has been resistance on several occasions, and the green lower trendline as the major support to keep the recovery going.
This same channel is pointing to a Bearish argument A channel that is ascending can appear bullish because the price moves upward, but can become a distribution system when it loses its momentum. Mason says that Bitcoin’s steady rise in the channel is creating fake strength. Retail traders are led to believe there will be a breakthrough back to $100,000.
It was a crucial moment when the false strength of the unit came to light was the move into CME’s $82,000 gap. Bitcoin had reached this CME target by early May. Then, it was repeatedly rejected between May 6-11. This was the textbook version of a trap before the next leg down.
Bitcoin Price Chart. Source: @AlexMasonCrypto On X
Bitcoin’s odds of reaching $100,000 by 2026
The green line of support is under stress as shown on the above chart. The structure will no longer be a gradual recovery, but rather a move to new lows.
A breakdown of the ascending channel is the first step to a new low. Next, we will aim for $70,000 and then a deeper level. move to new lows 60,000. Even further, the chart extends bearishness deeper. A dotted projection moves upwards. down to as low as $50,000 By early July.
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To reach $100,000 it will take confidence, liquidity, and an aggressive follow through over the $82,000 resistance. Bitcoin must also regain the 200-day MA at this level. Kalshi predicts that Bitcoin will reach this level. there’s only There is a 32% likelihood that Bitcoin’s price will rise above $100,000 by January 2027.
Chart from TradingView, image by Unsplash.
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Source: www.newsbtc.com
