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The Bitcoin bounce may have legs

Jay Kaeppel
2026-09-21
After another major drawdown, Bitcoin has rallied sharply. Does this rally have legs? A variety of indicators suggest a specific answer. Details herein.

Key points:

  • After a significant decline, Bitcoin has bounced back strongly in recent months
  • An upside reversal in a longer-term version of our sentiment indicator and a longer-term momentum indicator suggests more upside potential from here
  • The key questions for speculative traders are: Buy now or after a clean breakout; whether to buy Bitcoin or a tracking ETF; how to size the position and if and where to place a stop-loss order

Bitcoin is trying to rally

Bitcoin suffered a 53% decline from October 2025 to June 2026. Since then, it has bounced 38% higher and is threatening to break out to higher levels. Will this rally follow through? We cannot predict. However, several heretofore useful indicators are flashing favorable signals.The Bitcoin bounce may have legsLong-term Bitcoin Optix has reversed off a low level

The chart below highlights all dates when the 200-day moving average of our Bitcoin Optix indicator crossed above 44.44. The most recent signal occurred on August 21st.

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