2026-01-20 03:31:18

#数字资产市场动态【Market Analysis】Technical Outlook for January 20

**Current Bitcoin Situation**

BTC is oscillating around $92,800, with a 24-hour decline of 2.73%. The price is locked within a narrow range of $92,000–$93,600. Although institutional ETFs have seen slight fund withdrawals, as the leader of the crypto market, BTC's holding base remains solid, and selling pressure is not lethal. From a technical perspective, the daily EMA30 and the middle Bollinger Band form a dense support zone at $92,000 and $92,350, currently testing these key levels repeatedly.

MACD indicates that bearish momentum is waning, with the DIF and DEA lines converging—usually a sign that the correction is nearing its end. The 4-hour chart shows a typical box consolidation pattern, with $94,200 serving as the short-term dividing line between strength and weakness. A break above this level could truly reverse the trend.

**Ethereum Under Pressure**

ETH is in a worse state, with a 24-hour drop of 3.8%, and the lowest price even touched $3,170. The total market contract liquidation reached $7.9 billion, with Ethereum contracts accounting for over 60%—long leverage was heavily liquidated, accelerating the decline.

Support levels on the daily chart: the middle Bollinger Band at $3,180 and EMA30 at $3,150 are the first lines of defense. If these fail, the next support is at $3,100. On the 4-hour chart, $3,220 (middle Bollinger Band + Fibonacci resistance) has become a "ceiling" for rebounds. In the short term, the range of $3,170–$3,220 is likely to see repeated fluctuations.

**Future Considerations**

This decline was triggered by macroeconomic shocks, not intrinsic issues within the crypto space. Once emotions settle, a gradual stabilization is expected. BTC has once again proven its role as the "safe haven." The correlation between gold and BTC as safe assets remains somewhat unreliable in extreme market conditions. The long-term logic remains unchanged, but in the short term, funds are flocking into traditional assets.

Trading Advice: Don’t rush to buy the dip. Wait until BTC stabilizes above $93,000 and ETH recovers above $3,220 before considering positions. Contract traders should reduce their leverage to avoid becoming the next victims of liquidation.

BTC-2.88%

ETH-6.16%

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

12 Likes

Reward
12
5
Repost
Share

Comment

0/400

HodlOrRegret

· 12h ago

Here is the translation: Another such situation... BTC just won't die, ETH was really slaughtered this time. 790 million liquidated, longs deserve it? --- Wait a minute, is the safe-haven correlation between gold and BTC unreliable? Then what should we buy, is cash still king? --- 93k and 3.2k, two points, speaking casually. No one knows when we'll reach these levels. Contract traders still betting now are truly brave. --- Macro shocks, let them hit. Anyway, the crypto circle is only so capable; when it falls, it blames the outside world. --- How many times have you heard "don't rush to buy the dip"... it's always like this, and then it just keeps falling.

View OriginalReply0

ColdWalletAnxiety

· 12h ago

Again and again, caught in the bottom after buying the dip, the feeling of heavy loss really nobody can save --- ETH's recent drop is incredible, those leveraged liquidations should learn their lesson --- Is that line at 94200 really so magical? Feels like it always goes against me --- Better to hold steady with spot trading, futures are just for cutting leeks --- After looking at the indicators for a while, just two words: I don't understand --- BTC is the safe haven? I think it's more like a sedative—if it needs to fall, it will fall --- Wait, wait, wait, when will I finally be able to buy the dip? I've been waiting so long --- Reducing positions sounds easy, but taking losses is really painful --- Gold has fled, BTC can't hold up either, what can we believe in then? --- If 3100 really breaks, I suspect there's no bottom left afterward

View OriginalReply0

StakoorNeverSleeps

· 12h ago

ETH has really taken a hit this time. The 790 million liquidation shows how greedy the bulls are... Looks like we have to wait for BTC to hold at 93K and ETH to return to 3220 before making a move, otherwise it's just taking the hit. Contract brothers, hurry up and reduce your positions, don't be reckless.

View OriginalReply0

AlphaBrain

· 12h ago

Another market like this, BTC is holding quite strongly. I'm just worried that small investors are still sleepwalking into the bottom, and they'll regret it only after the liquidation list comes out.

View OriginalReply0

LeverageAddict

· 13h ago

Contract liquidation hits 790 million... This time it's really intense, with longs heavily concentrated and being bottom-fished. You need to wait for signals before acting. Don't rush to bottom-fish; it's the right move. I'm only confident about those two levels, and that's all. BTC remains the stabilizing force, very steady.

View OriginalReply0