Bitcoin And Ethereum On Their Way To 2026 Lows: Is A Double-Bottom Coming?
Summary With Bitcoin (BTC-USD) having breached the $100,000 level, Ethereum (ETH-USD) began a shocking move higher from $2,100 to $4,950, setting new records. It is typical to see corrections of 50% to 75% in this very volatile market, as seen in the 2013, 2018, and 2021 crashes. Following these huge corrections, barring systemic rewirings, there have been historic runs. Does crypto still have much more to correct? Knowing that they still stand at the extreme of the risk spectrum, potentially, yes. However, the real question is how much more. Here we take a look at the daily charts with technical levels for Bitcoin and Ethereum. By Elior Manier Cryptocurrencies haven't caught a break in the past four months. Risk appetite has taken a U-turn lower after a marvellous mid-2025. From the conclusion of the 12-day war to the layoffs fears in October, digital assets looked invincible. With Bitcoin ( BTC-USD ) having breached the $100,000 level, Ethereum ( ETH-USD ) began a shocking move higher from $2,100 to $4,950, setting new records. Now, looking at these prices, it seems as if we were talking about some antique trends. But for those unaccustomed to the asset class, this is what crypto does. It stays dormant, makes you forget, then it builds momentum, and suddenly it explodes higher. After a while, everybody talks about crypto. Financial revolutions, new countries adopt them as their reserve currencies, and the end of the Fiat currency system as we know it: new records are forged, headlines come by the millions, grandmothers start buying, and suddenly it's all over. It is typical to see corrections of 50% to 75% in this very volatile market, as seen in the 2013, 2018, and 2021 crashes. It wipes out doubters, leveraged traders, and dodgy projects. But the dreams of higher levels are sensical. Following these huge corrections, barring systemic rewirings, there have been historic runs. A reminder that Bitcoin is still up 300% since its Summer 2022 bottom - compared with Nasdaq, which is up a (still impressive) 130% in the same period. The magnitude of moves in crypto is just that elevated, hence corrections tend to be quite brutal. Current Session in Cryptos - January 24, 2026 (10:11) (Source: FinViz) So is it soon over? To me, we are just entering a phase of broad market turmoil. Does crypto still have much more to correct? The entire space lost more than 50% of its valuation. It is now much less overbought than it was, but knowing that they still stand at the extreme of the risk spectrum, potentially, yes. However, the real question is how much more. Predicting a bottom is a rough task. Luckily, investors and traders don't need a crystal ball to make money. One potential strategy is to wait for key numbers to place small, progressive trades and investments. The last drop to $60,000 preceded a swift rebound the past few weeks, coinciding with a close to 50% retracement, and it is getting close again. Dip-buyers could also wait for $55,000; $50,000, and you get the idea for the rest. The most important thing is to make your own investment game plan, spread your entries, and avoid getting too scared by obsessively seeking certainty on the Internet when no one knows what's coming. That's how, eventually, when the bearish wave is gone, you will have caught some decent averages on your entries and can wait for better days to take profits or flex on those who threw the towel in. Let's dive right into the daily charts with technical levels for Bitcoin and Ethereum. Bitcoin (BTC) Daily Chart and Technical Levels Bitcoin (BTC) Daily Chart - February 24, 2026 (Source: TradingView) In the immediate situation, there are two scenarios emerging: Reaching the $60,000-63,000 key support, a double bottom could happen here and would give the hand to bulls for the time being. A slow grind lower around here would break recent lows and head to $55,000, which is the low of the bear channel and also coincides with the measured move target from the October high. This would provide interesting entry levels. Levels of Interest for BTC Trading: Support Levels $60,000-63,000 main 2024 support (testing) $59,935 February lows $52,000 to $58,000 next support and 200-week MA ($55,000 mid-point) $40,000 mid-2024 breakout support Resistance Levels $70,000 short-term momentum pivot $75,000 key long-term pivot (acting as resistance) $80,000-83,000 mini-resistance (50-Day MA) $90,000-95,000 pivotal resistance Current ATH resistance $124,000-126,000 Ethereum (ETH) Daily Chart and Technical Levels Ethereum (ETH) Daily Chart - February 24, 2026 (Source: TradingView) A rebound at immediate support ($1,700 to $1,800) would provide a strong hand to the bulls with a double bottom. A progressive drop would break support and head back towards the 2025 lows at around $1,500, which would coincide with channel lows and provide optimal entries. Levels of Interest for ETH Trading: Support Levels $1,700-1,800 pre-bounce 2025 key support (testing) $1,744 February 6 lows $1,380-1,500 2025 support 2025 lows $1,384 Resistance Levels $2,100-2,300 June war support now key pivot $2,500-2,700 June 2025 key support now resistance (channel highs) $3,000-3,200 major momentum pivot (test of the $3,000) $4,950 current new all-time highs Original Post Editor's Note: The summary bullets for this article were chosen by Seeking Alpha editors.