Bitcoin Bulls Chase $91k As Early 2026 Rally Finds Sustained Volume

Bitcoin bulls are making a run on $91,000 as start-of-the-year trading volumes highlight the market’s expectation of a positive Q1.

Bitcoin’s start of year rally ran into stiff resistance near $93,000, triggering a pullback that has shifted the market’s focus back to key support levels. While the higher-time-frame (HTF) structure still looks fragile, the lower time-frame (LTF) signal suggests bulls may yet have room to regain control if critical levels hold.

Bitcoin rejected at $93,000 for the third time, slipping back toward weekly lows near $89,250.

Rising open interest during the dip suggests shorts are building positions near $90,000.

Strong passive bids around $90,000 could act as a springboard, or fail and open the door to the $86,000 to $87,000 range.

After an 8% surge to $93,000, Bitcoin (BTC) printed a swing failure pattern (SFP) at the same resistance level for the third time. The rejection pushed BTC down to weekly lows near $89,250, reviving the risk of consolidation or bearish continuation in line with the broader HTF trend.

Still, the LTF structure leaves room for a bullish response. Bitcoin is currently testing a key order block between $89,200 and $90,500, the first area of interest where bulls could attempt fresh long entries if momentum flips positive.

Adding to this support, BTC continues to hold above the monthly rolling VWAP (volume-weighted average price), which turned bullish again at the start of 2026.

In the near term, Bitcoin could chop sideways into the weekly close. A decisive bullish engulfing recovery above $91,666 would mark the first confirmation of bullish continuation, forming a higher low on the LTF trend and potentially trapping late shorts positioned from $90,000 to $92,000.

Open interest data strengthens this setup. As BTC dipped to $90,000 from $92,000, open interest climbed sharply, a sign that short positions are building. If BTC can defend $90,000, a short squeeze becomes likely. A strong daily close above $91,700 would be the first signal, opening the path for another test of $93,000.

Source: CoinTelegraph