Bitcoin’s 13% Breakout Path Survives 150% Profit Booking Surge: Analyzing the Charts

Bitcoin’s price has slightly decreased, yet the broader structure remains intact. After reaching a peak on January 14, 2026, BTC experienced a correction of nearly 6%, momentarily touching the $92,000 mark. Despite this, Bitcoin's price has stabilized, although it has seen approximately a 2.6% decline over the last 24 hours.

Key Takeaways

Bitcoin’s recent price decline is largely attributed to profit booking by long-term holders rather than panic selling.
The cup-and-handle pattern indicates a potential bullish breakout, with essential resistance levels to monitor.
Long-term holders' selling pressures exist, but demand from buyers, particularly large entities, persists.
The structure remains intact above $92,000, but a close below this level could lead to a more significant breakdown.
Future projections suggest potential price targets of $100,000 and beyond, contingent on demand retention and market behavior.

At first glance, this movement may seem weak. However, observing the chart structure and on-chain data indicates that this dip may be mainly a controlled profit-taking action rather than the onset of a more significant decline. The pivotal question is straightforward: is this just a temporary pause, or is Bitcoin gearing up for its next upward movement?

Cup-and-Handle Pattern Maintains Bullish Outlook

On the daily chart, Bitcoin continues to trade within the handle of a cup-and-handle pattern, which is significant because the handle is forming above an ascending neckline. This upward movement in the handle suggests that buyers are re-entering at higher price levels, increasing the likelihood of a successful breakout once resistance is overcome.

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Furthermore, momentum indicators provide a supportive signal. Between November 4 and January 19, although Bitcoin's price hit lower lows, the Relative Strength Index (RSI) showed higher lows. The RSI measures momentum by contrasting recent gains to recent losses. Thus, a falling price with an improving RSI indicates that selling pressure is tapering off.

The analytics team from the all-in-one crypto platform B2BINPAY commented exclusively to BeInCrypto, asserting that the price action implies a need for patience rather than a sign of exhaustion.

“What we are observing with Bitcoin is a gradual exit from the long flat phase that started in mid-November 2025. There is no sudden surge in chart activity, typically indicating a pause before an attempt to challenge the $100,000 level,” they noted.

This bullish divergence hints that the broader three-month downtrend, during which Bitcoin remains approximately 15% lower, may be losing momentum. Confirmation of this divergence would occur if Bitcoin stays above $92,000 and begins moving higher again. As long as the price remains within the handle, the bullish structure is preserved.

So, if the chart appears positive, why did Bitcoin experience a downturn initially?

Profit-Taking by Long-Term Holders Clarifies the Decline

The answer can be found in on-chain analysis. The recent pullback corresponds closely with long-term holders booking profits, rather than widespread panic selling.

The Net Unrealized Profit/Loss (NUPL) index for long-term holders dipped from about 0.60 to 0.58 during the decline. NUPL gauges the unrealized profits holders currently possess, and a decrease indicates that profits are being realized. This dip represents one of the sharpest monthly NUPL declines, comparable to the downturn observed between January 5 and January 10.

This conclusion is further supported by examining the net position change of long-term holders. This metric tracks whether those holding coins for over a year are accumulating or selling. On January 14, long-term holders sold approximately 25,738 BTC, and by January 18, that figure had escalated to about 62,656 BTC, reflecting a 150% increase in selling pressure within a few days.

Despite this profit booking pressure, analysts note that demand-side behavior has not significantly weakened. According to the B2BINPAY analytics team, overall market positioning indicates steady accumulation beneath the surface.

“While buyers are present, they are taking their time. At the same time, large holders continue accumulating. On January 13, Bitcoin ETFs experienced nearly $900 million in inflows, the highest since October 7. That day also saw Bitcoin rise by nearly 8%,” they highlighted.

This profit taking accounts for why recent Bitcoin rallies have struggled to gain momentum. When conviction holders sell, it limits any potential upside, even if the chart appears healthy.

Nevertheless, it’s not entirely negative.

While long-term holders were selling, another group was quietly engaged in the opposite action.

Whales Continue to Accumulate Key Bitcoin Price Levels

Entities that hold more than 1,000 BTC have been active in accumulating. Since January 12, the number of such entities has grown from about 1,273 to roughly 1,290. Though this represents a modest increase, it is essential that this accumulation occurred before the dip and persisted through it.

This activity signifies that whales did not sell off during periods of weakness. Their accumulation helps absorb some of the supply while long-term holders realize profits.

From a price perspective, Bitcoin is currently at a decisive point. To regain bullish momentum, it needs to move past $95,200, signaling a breakout from the handle. Beyond that, the next significant level to watch is $98,800. If Bitcoin clears this level, it could pave the way toward the pattern's projected target of approximately $111,800, representing a 13% increase from the cup’s dynamic neckline.

The B2BINPAY team discussed similar price levels with BeInCrypto:

“Overall, the structure indicates continuation. As long as Bitcoin remains above the $94,000–$95,000 range, a move toward $100,000–$105,000 is feasible within weeks. If demand continues, we could see Bitcoin reach the $120,000–$140,000 range later in 2026. Conversely, a failure would likely prompt a pullback to $88,000–$90,000, where liquidity is already concentrated,” they mentioned.

On the downside, the structure weakens if Bitcoin closes below $92,000, and a deeper breakdown beneath $89,200 would entirely negate the pattern.

In summary, the recent dip was driven by profit booking rather than panic. The overall structure remains bullish, and whales are still accumulating. However, for the breakout to be sustainable, long-term holders need to shift from selling to buying again. Until that happens, Bitcoin’s hope for a 13% breakout remains intact, albeit uncertain.