Analyst: Bitcoin may challenge the resistance level of $98,000 to $100,000 in the short term, but is bearish on the overall trend for 2026

Cryptanalysis expert Willy Woo posted on the X platform expressing a bullish outlook for Bitcoin's performance from late January to February, as the current internal investor flow model indicates that the market has been steadily strengthening since bottoming out at the end of December last year. However, prices typically need 2-3 weeks to reflect this change.

Additionally, the liquidity of derivatives in the futures market is returning after months of silence, similar to the situation in mid-2021, which led to the second peak of the previous cycle. At this stage, Bitcoin needs to challenge the price range of $98,000 to $100,000, and if it breaks through this level, the performance of the resistance at the all-time high (ATH) should be observed.

However, Willy Woo remains bearish for the entire year of 2026, as from a more macro perspective, liquidity flow has been weakening relative to price momentum since January 2025. If a significant influx of spot liquidity occurs in the coming months to break the downward trend, it may change his outlook. Currently, the bear market has not been confirmed, as indicated by the increasing negative fund outflows from Bitcoin, which is a lagging indicator of the cycle's peak.