Potentially Powerful Recovery Rally For Bitcoin

Cash Bitcoin and IBIT Update:  

On February 5, 2026, when BTC was trading at 69,322, this is what we discussed about my Big Picture Weekly Chart Setup:

My Weekly BTC setup indicates that the 70,000 down to up-sloping 200 Week MA, now at 58,085, is the potential bull-bear-battle Turn Zone that will be played out over a 4 to 6 week period, likely the requisite timeframe for WEEKLY Momentum to bottom, create a positive divergence, and then turn up...  While nothing is written in stone, especially when it comes to the mysterious world of Crypto pricing, these three views provide us with technically-based scenarios to help us manage our expectations of what could lie directly ahead for Bitcoin... Last is 69,322... 

Fast-forward 6 weeks, and we see on my attached Weekly Chart that BTC has put in the requisite bottoming work similar to the June-July 2022 period ahead of a multi-month advance from 15,000 to nearly 74,000. 

I don't know if a move of similar magnitude is approaching or in progress, but the technical setup has improved enough to support a potentially powerful recovery rally that will smack into meaningful resistance at 81,000-83,000, presuming BTC hurdles and sustains above 74,200... 

As for IBIT, it has pushed to a 6-week new high this AM above 42.02, and points to a confrontation with the sharply down-sloping 50 DMA, now at 44.15... Last is 42.06...