The post BTC Price Prediction: Bitcoin Eyes $86K Recovery After Oversold Bounce appeared on BitcoinEthereumNews.com.

Jessie A Ellis
Feb 01, 2026 13:58

Bitcoin trades at $78,323 with RSI at 24.67 indicating oversold conditions. Technical analysis suggests potential bounce to $82-86K resistance zone within 1-2 weeks before testing higher levels.

BTC Price Prediction Summary • Short-term target (1 week): $82,260 – $86,199 • Medium-term forecast (1 month): $75,000 – $92,000 range• Bullish breakout level: $86,199 • Critical support: $71,782 What Crypto Analysts Are Saying About Bitcoin While specific analyst predictions from major crypto KOLs are limited in recent hours, institutional forecasts remain notable. According to recent reports, Standard Chartered revised their Bitcoin forecast downward to $150,000 for 2026 from a previous $300,000 target, citing concerns about Bitcoin Digital Asset Treasury companies’ ability to continue aggressive accumulation strategies. VanEck provided a longer-term Bitcoin forecast, predicting BTC could reach $2.9 million by 2050 with a 15% compound annual growth rate, though this represents a highly optimistic long-term scenario. On-chain data from platforms like Glassnode and CryptoQuant continues to show mixed signals, with accumulation patterns suggesting institutional interest remains despite recent price weakness. BTC Technical Analysis Breakdown Bitcoin’s current technical picture presents a compelling oversold setup. Trading at $78,323, BTC has declined 5.30% in the past 24 hours, creating several key technical signals: RSI Analysis: The 14-period RSI at 24.67 indicates severely oversold conditions, historically suggesting a potential bounce is imminent. RSI readings below 30 often mark short-term bottoms in Bitcoin’s price action. Moving Average Pressure: BTC trades well below all major moving averages, with the 7-day SMA at $84,696 and 20-day SMA at $89,539 providing overhead resistance. The 200-day SMA sits much higher at $103,955, indicating the longer-term uptrend remains intact despite current weakness. MACD Momentum: The MACD histogram at -0.0000 shows bearish momentum has potentially reached an extreme, with…

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Filed under: News - @ February 1, 2026 2:27 pm