The cryptocurrency market at the start of 2026 has already experienced turbulent fluctuations. BTC has been oscillating frequently in the short term, attracting a large number of new investors' attention. Many are asking the same question: Is now the right time to buy the dip? Has the bull market truly not ended yet?

From the perspective of the yearly moving average, the situation may not be so optimistic. Last year, BTC formed a bearish candle with a clearly long upper shadow, which typically indicates the exhaustion of upward momentum in technical analysis. In other words, the rally since 2023 is gradually losing its energy, and 2026 is likely to enter a phase of correction and recovery. Breaking through previous highs easily will indeed be quite challenging.

So, the key question is—where is the support level? I have identified three important technical support levels that require close attention.

First is the yearly MA5 support, currently around $65,600. This moving average plays a significant role in judging medium- to long-term trends.

Second is near the $69,000 region around the previous bull market top. This price level is not only a psychological barrier but also a historically dense trading zone, often providing strong support.

Finally, the 50% Fibonacci retracement of the large bullish candle in 2024, which is approximately around $67,900.

These three levels form a support zone, within which the market is very likely to oscillate repeatedly. However, it is important to emphasize that support levels do not mean the market has stopped falling; investors should not view them as absolute safe zones. Risk management remains the top priority.