Market Analysis 2026.02.17

Since the evening of February 5th, when it was suggested that a further dip to a new low would lead to a rebound, BTC has risen from 60,000 to 72,200. The view remains unchanged — the rebound is not over yet. The black line in the chart represents the first wave, and what is currently underway is a correction. Once the correction ends, there will be another wave of the same level rebound.

There are two possible scenarios for BTC's correction. If it follows a strong correction, it will be as shown by the blue line in the chart, meaning it will not drop below 65,000 in the near term. Once it converges to an extreme, the correction will complete at any time, and a new rebound will begin.

If it follows a weak correction, as indicated by the red line in the chart, it will break below 65,000, then complete the correction and start the next upward wave.

Regardless of the correction pattern, BTC's correction phase is nearing its end. After the correction ends, a new high above 72,200 will be created. After completing this entire rebound, BTC will continue to decline.