2026-01-20 00:25:02

Bitcoin yesterday dropped to around 91,800 and then rebounded back to around 93,000, holding steady throughout the day at this level. However, this morning it started to turn downward again, currently hovering around 92,000. It seems that the bulls are still unable to suppress the bears' momentum.

From the 4-hour chart, the rebound encountered resistance in the 94,200-94,500 zone. This area coincides with the 0.618 Fibonacci retracement level plus a dense cluster of previous highs, now resembling a double top formation. The Bollinger Bands are also tightening, with the price stuck at the middle band, unable to move. All technical confirmation signals have appeared—MACD death cross, initial green bars, very clear bearish signals.

Trading reference:
For Bitcoin, consider short positions when the price rebounds to around 93,500-94,000, with targets at 92,500-91,000.
For Ethereum, when the price rebounds to around 3,325-3,350, you can also consider shorting, with targets at 3,250-3,200.

A reminder: this is purely technical analysis for reference. Risk management must be in place, and stop-losses should be strictly enforced.

BTC-2,11%

ETH-3,57%

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IfIWereOnChain

· 9h ago

The bulls really can't push it anymore; as soon as a double top appears, you know it's coming down. With such a clear bearish signal, entering at 93500 doesn't seem to be a big problem. It's another MACD death cross; if this combo punches through, it's a miracle if it rebounds. Have you set your stop-loss? If it really breaks below 91, it's a bit risky. The Bollinger Bands tightening usually isn't a good sign; betting this time won't be an exception.

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RugpullAlertOfficer

· 9h ago

Once again, it's full of bearish signals. This time, it's really not a fake-out, right?

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TradFiRefugee

· 9h ago

It's the same double-top pattern again. Can it break the level this time? Feels like the MACD death cross is just like my account—dying and coming back to life again and again.

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MetaDreamer

· 9h ago

Starting to trap people again... Is double top really that good for bottom fishing?

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