Weekly Bitcoin Price Analysis & Forecasts26th January – 1st February 2026
Following on from last week’s analysis, Bitcoin experienced a sharp continuation of downside pressure as broader risk sentiment weakened. The market saw aggressive selling across both intraday and higher timeframes, confirming that the corrective structure discussed previously has now developed into a deeper pullback. This week’s price action reflects a shift in momentum as macro uncertainty increased and liquidity was flushed from key technical levels.
Hourly Analysis
On the hourly timeframe, Bitcoin remained under sustained bearish pressure throughout the week. Price trended lower in a clear descending structure, consistently failing to reclaim the short term moving averages. Each attempt at recovery was met with rejection, forming a series of lower highs and lower lows.
Late in the week, a sharp sell off pushed price into the mid 77,000 region, creating a short term reaction bounce. This move appears corrective rather than impulsive, as volume expanded into the downside move and buying pressure remained limited on the rebound. The hourly structure now suggests price is attempting to stabilise, but momentum remains fragile while price trades below prior support turned resistance.
Key intraday levels to monitor are the recent lows near 76,000 as short term support, with resistance sitting around the 80,000 to 82,000 zone where previous consolidation occurred.
Daily Analysis
On the daily timeframe, Bitcoin has confirmed a broader bearish continuation. Price has broken decisively below its previous consolidation range and remains below both the short term and longer term moving averages. The rejection from the mid 90,000 area earlier in the month now appears to have completed a distribution phase, with the current structure resembling a corrective leg within a larger downtrend.
The recent daily candles show strong bearish momentum with only limited follow through from buyers. While a technical bounce has occurred from the lows, price remains structurally weak unless it can reclaim the 85,000 to 88,000 region. Until that occurs, rallies are likely to be viewed as corrective rather than trend reversing.
From a broader perspective, this move has cleared liquidity below prior range support, which may allow for consolidation or mean reversion in the coming sessions. However, trend bias remains cautious while price trades below the key daily resistance zones.
Summary and Upcoming News Events
Bitcoin ended the week under pressure after a strong downside expansion across both intraday and daily timeframes. The market is currently attempting to stabilise after sweeping liquidity beneath recent support, but overall structure still favours corrective price action unless a stronger reclaim occurs.
Looking ahead, several high impact macro events could influence volatility:
US JOLTS Job Openings (Wednesday)
US ISM Services PMI (Thursday)
US Average Hourly Earnings (Saturday)
US Non Farm Payrolls (Saturday)
US Unemployment Rate (Saturday)
These releases will be closely watched for signals on labour market strength and inflation pressure, both of which remain key drivers of risk asset sentiment, including Bitcoin.
In the short term, traders should expect increased volatility around these events, particularly toward the end of the week. Price holding above recent lows may allow for consolidation, while further weakness could open the door for another leg lower before a more meaningful recovery attempt develops.
As always, risk management remains critical while the market transitions through this high volatility phase.
Credit: Crypto Craft
