2026-01-20 00:26:11

On the morning of January 20th at 8:00 AM, Bitcoin fluctuated around $93,100, with a 24-hour decline of 2.5%. From this round of market movement, the price peaked at $95,531 before retracing, touching a low of $91,910, with an overall fluctuation close to 4%. This back-and-forth pattern has been quite common in recent days.

On the technical side, the situation is a bit concerning — the key level of $94,200 has already been broken. According to EMA30, the main defense line is currently at $92,000, and further down is the middle band of the Bollinger Bands at $92,350. The MACD indicator is shrinking, and the bullish momentum is clearly lacking, making it seem unlikely to see a strong rebound in the short term.

Fundamental data also warrants attention: 24-hour trading volume is $39.86 billion, with nearly 240,000 liquidations in the past 24 hours. This indicates that while market participation remains active, institutions are taking profits, and retail traders are under pressure.

From a trading perspective, we are currently in a phase of repeated testing within the $92,000–$94,200 range. Resistance above $94,200 is sharp, and support below $92,000 is also present. A more prudent approach is to wait for a breakout of this range or to trade within the band, rather than blindly chasing longs. The short-term focus should be on monitoring the performance at these two key levels.

BTC-3,52%

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.

13 Likes

Reward
13
7
Repost
Share

Comment

0/400

MEVictim

· 1h ago

240,000 people liquidated, just more chopping the leeks, old routine Back to staying up late to watch the market, is the 92,000 level really unbreakable? Institutions really know when to dump, retail investors are just the unlucky ones to take the hit 92,000-94,200, I bet it will break below, sooner or later In this wave of market, no matter how you do the swing trading, you'll get caught, better wait for a breakout MACD shrinking indicates what? It means no one dares to chase anymore Nearly 240,000 people liquidated, that number is truly shocking, it's high time to cut losses Losing the 94,200 level was expected, the next support is the real key Institutions are taking profits, and retail investors are once again the leeks With this rhythm, a short-term rebound is unlikely, better to just hold on for now

View OriginalReply0

BoredApeResistance

· 01-20 00:56

Starting this cycle again, just bouncing between 92,000 and 94,200 repeatedly, so annoying really.

View OriginalReply0

SchrodingerPrivateKey

· 01-20 00:55

240,000 people liquidated, this is the fate of retail investors. Institutions have already run away.

View OriginalReply0

PumpBeforeRug

· 01-20 00:55

240,000 people liquidated, this number is quite harsh. Retail investors have been harvested again.

View OriginalReply0

zkProofInThePudding

· 01-20 00:52

Starting to fall again, the 92,000 defense line must be held, or else it will keep taking hits.

View OriginalReply0

Hash_Bandit

· 01-20 00:50

ngl, seeing 240k liquidations in 24h hits different... that's just the network struggling to find consensus, if you know what i mean. been here since the difficulty adjustment days, this chop between 92k-94.2k is just miners testing the hashrate limits, classic oscillation pattern tbh

Reply0

PumpDetector

· 01-20 00:38

ngl the 92k support line is gonna get tested hard... watched this movie before during the gox era, always the same script. smart money's already out, now we're just watching retail get shaken. tbh the real question isn't where it bounces—it's whether we even break lower first.

Reply0