I asked if Bitcoin would bottom in a July 28, 2026, Barchart article, and I concluded with the following:
Given their volatility, I believe Bitcoin and COIN are best suited for trading rather than investing. Accepting small losses in the quest for oversized profits is optimal in the cryptocurrency asset class.
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Price history suggests that Bitcoin and COIN will find bottoms. Time will tell if those lows are already established or if the volatile cryptocurrency assets have further downside.
Bitcoin was trading at $64,520.35 on July 27, 2026, with Coinbase Global (COIN) shares at $163.23. In September 2026, Bitcoin was trading on either side of $80,000, and COIN was over $170 per share.
Bitcoin bounces after holding above critical technical support
The long-term monthly chart highlights that while the leading cryptocurrency experienced another correction in a long series of substantial corrections, it held above the level that would threaten the bullish trend since 2010.
The chart shows that Bitcoin fell 54.3% from the October 2025 high of $126,184.05 to the July 2026 low of $57,717.55 per token, where it found a bottom. While the correction was ugly, it was not the first time Bitcoin lost half its value or more. However, each previous selloff has led to a new record high. While Bitcoin was plunging, critical technical support for the bullish trend was at the August 2024 low of $49,784.02. Bitcoin remained more than $7,900 above that support level at its most recent low, which is not critical support in a market that has made higher lows for the past decade.
COIN also bounces
Coinbase Global (COIN) is the leading U.S. cryptocurrency platform, providing trading in more than 50 digital assets.
COIN shares began trading in April 2021, opening at $381 and rising to a high of $429.54 before a 92.7% correction to a low of $31.55 per share in January 2023. While Bitcoin has been highly volatile, COIN has shown even greater percentage price variance.
The monthly chart shows that after the over 92% decline, COIN rallied 1,309% to a record high of $444.64 in July 2025. The latest decline took the shares 68.7% lower to $139.11 in July 2026 before recovering to over $190 in September, before running out of upward momentum.
If history is a guide, a parabolic rally could be on the horizon
Bitcoin, cryptocurrencies, and COIN are highly volatile assets that have experienced boom-and-bust price activity over the past years.
History tends to repeat, and if the past patterns in Bitcoin and COIN have found bottoms, new highs could be on the horizon. While recent price action may have begun with short covering, developing bullish trends are likely to attract speculative buying over the coming days, weeks, and perhaps months. While not perfectly correlated, Bitcoin and COIN tend to move in the same direction as cryptocurrency prices rise; increasing trading activity sends COIN’s earnings and share price higher.
Technical targets in Bitcoin and COIN
From a short-term perspective, the year-to-date charts highlight the levels to watch in Bitcoin and COIN.
The daily chart shows Bitcoin rose to $82,283.00 on September 4, with the first technical resistance at the May 6 high of $82,812.95 per token. Technical support is at the June 15 high of $67,264.00.
The daily chart shows COIN rose to $195.85 on September 3, with the first technical resistance at the May 14 high of $222.35 per share. Technical support is at the July 17 low of $152.58.
Caution and a risk-reward plan are required with cryptocurrencies
Cryptocurrencies and related assets are among the most volatile in the world. Boom-and-bust price activity has become routine over the past few years. Therefore, when considering a risk position in Bitcoin, any cryptocurrency, COIN, or any crypto-related asset, a risk-reward plan, including stops and profit horizons, is necessary to protect capital. Given the volatility, it is critical to stick to stops when the price moves contrary to expectations. However, when it moves in the anticipated direction, increasing profit horizons with commensurate stop adjustments protects profits and capital and increases the odds of success.
Volatility creates a nightmare for passive investors, but it is a paradise of opportunity for flexible and disciplined traders. In cryptocurrencies, going with the flow has been optimal over the past years, but when the trend bends, protect capital, as boom-and-bust markets take no prisoners.
With four months left in 2026, Bitcoin could reach and exceed $100,000 per token. From April through August 2025, Bitcoin rose nearly $50,000 per token. With the leading cryptocurrency close to $23,000 below the $100,000 level, a rally to that level is not out of the question but time is running short.
On the date of publication, Andrew Hecht did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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