Bitcoin bounced back above $91,000 after a New Year dip, as Venezuela linked U.S. strike headlines briefly pushed markets into risk off mode. Meanwhile, a longer term channel chart still shows Bitcoin holding its multi year uptrend into early 2026.
Bitcoin rebounds from New Year dip as Venezuela headlines hit risk appetite
Bitcoin climbed back above $91,000 by Jan. 4 after a sharp New Year pullback pushed prices into the $87,000 area on the Bitstamp 1 hour chart. Price later held near $91,243 at the Jan. 4, 08:03 UTC snapshot, after topping out just under $92,000 and then moving sideways.
Bitcoin U.S. Dollar 1 Hour Price Chart: Source: CoinCodex
First, Bitcoin traded choppy into Dec. 31, then it sold off into the turn of the year. However, buyers stepped in quickly, and the market began building higher lows through Jan. 1 and Jan. 2. As a result, the chart shows a steady grind higher that carried Bitcoin back through $89,000 and $90,000.
Then, volatility spiked around Jan. 2 and Jan. 3, with wider candles and heavier bursts of volume. This swing lined up with broader risk off behavior after headlines tied to a U.S. attack involving Venezuela. Still, Bitcoin stabilized after the initial drop, and it resumed its climb into Jan. 4, when it pushed into the low $91,000s and paused near resistance.
Bitcoin holds long term rising channel as price trends toward upper range
Bitcoin continues to trade inside a multi year rising channel that has guided price action since the 2018 cycle, according to a long term BTCUSD index chart shared by Trending Bitcoin on X. The chart shows Bitcoin rebounding from the lower boundary of the channel near the mid $80,000 area and then resuming its broader upward structure into early 2026.
Bitcoin U.S. Dollar 1 Day Index Long Term Rising Channel Chart. Source: Trending Bitcoin on X (AO btc analyst)
First, the chart highlights repeated reactions along the channel’s lower trendline across multiple market cycles. Each major drawdown since 2019 found support near that rising base before price rotated higher. This pattern repeated again in late 2025, when Bitcoin briefly slipped toward the lower channel range before stabilizing and turning upward.
Then, Bitcoin pushed back above the mid channel zone, where price had previously consolidated during earlier expansion phases. That region acted as a pivot area rather than a reversal point, as buyers defended pullbacks and prevented deeper breakdowns. As a result, the structure remained intact despite short term volatility.
Finally, the chart projects Bitcoin trending toward the upper boundary of the channel over the longer horizon. While the blue projection extends well beyond current price levels, the key takeaway remains the same. Bitcoin continues to respect the rising channel that has defined its long term market structure, keeping the broader trend intact as of early 2026.
