Bitcoin in consolidation: Technical analysis focusing on resistances and derived flows

The technical outlook suggests a strategic pause before the next move

Bitcoin maintains a strong bullish structure into early 2026, although the price consolidates in a critical zone after recovering from the weakness recorded in the last weeks of 2025. Market data confirm that the asset preserves progressively higher highs and lows on the four-hour chart, a key signal that buyers have regained control after reclaiming important intermediate levels. At $90.99K with a 2.17% drop in 24 hours, BTC approaches a dense barrier zone where activity typically intensifies.

Resistance bands and key structural levels

The resistance zone presents a stepped rather than point-like nature. Traders using tools like resistance calculators can identify the first significant barrier near $92,460, where the 0.786 Fibonacci retracement converges. The $94,650 region represents a previous high that halted prior advances in the same range. If the bullish momentum strengthens and breaks through both levels, the psychological zone of $95,000 emerges as a secondary target.

Expected volatility in this band suggests traders are constantly adjusting their positions. The price remains above rising short-term exponential moving averages, reinforcing the stability of the short-term trend. However, a rejection at current levels would not immediately invalidate the broader setup.

Well-defined supports preserve the bullish scenario

Bitcoin has several support levels that keep the bullish hypothesis alive. Between $90,700 and $90,400, a previous resistance and positively sloped exponential moving averages converge, creating a technically relevant zone for momentum traders. The $89,500 level aligns perfectly with the 0.5 Fibonacci retracement and the short-term structure, acting as a critical structural support.

If support at $89,500 fails, focus would shift to the $88,300 to $88,000 region, which marks a previous breakout level. A deeper correction could test the lower range of $86,800 to $86,400. Falling below this zone would undermine the current bullish setup.

Open interest and signals of strength in derivatives

Futures data reveal that Bitcoin’s open interest continues an upward trajectory alongside the price. Increases have been orderly rather than vertical, indicating that leverage is growing without creating excessive risk of cascading liquidations. Brief retracements in open interest coincided with superficial price corrections, reflecting routine position adjustments rather than sentiment shifts.

Spot flows: changing selling pressure

Market flow analysis provides additional insight into current dynamics. For most of the period, outflows dominated, reflecting distribution during rallies. However, intermittent inflows have emerged in consolidation zones. In early January, net flows were slightly positive near $94 million, indicating waning selling pressure and improved demand.

This shift in dynamics supports short-term price stability and suggests buyers remain interested at these levels.

Technical outlook: consolidation within an upward structure

The Bollinger Bands point toward a possible expansion of volatility, while EMAs continue aligned upward. Bitcoin consolidates within an ascending structure rather than forming a top. The outlook depends on whether buyers can maintain support at $89,500 and sustain acceptance above $92,460.

Stronger entries and a steady growth in open interest support the bullish scenario. However, if key supports give way, the upward continuation would be delayed, shifting focus toward lower-range supports. For now, Bitcoin remains in a decision zone where the next confirmation will define the next significant move.