Bitcoin’s price swung sharply from a high of $97,939 down to $88,665 before settling around $89,396, leaving the market in a cautious mood. After that selloff the market has narrowed into a tight trading band, with price action showing a tentative bounce but still constrained by overhead resistance. Traders and participants are watching whether this consolidation becomes a base or merely a pause before further downside.
Bitcoin's Recent Price Action
On the daily picture, the drop into the $86,000 area was the main feature, followed by a rebound back into the $89,000–$90,000 zone that looks like the early stages of base formation. Candlesticks and subdued volume point to indecision rather than conviction, so the current range is acting as a holding pattern. For context on recent levels and how consolidation developed, see the December 2025 review.
Bitcoin Chart Outlook
Daily chart
The daily chart shows the market recovering from the selloff and trading in a narrow band, with support identified between $86,000 and $88,000. Price has bounced into the $89,000–$90,000 area, which could be the start of a base if buyers bring more volume. Key overhead tests remain at $91,000 and then the $94,000–$95,000 resistance zone.
4‑hour and 1‑hour insights
Intraday charts echo the daily’s caution: sideways action and tight candles dominate as the market searches for direction. The pattern of higher lows on shorter timeframes suggests a fragile micro uptrend, yet recent rejections at the $91,000 area show that momentum is not sustained without clearer buying interest. Until volume increases on upside moves, breakout attempts risk failing.
Technical Indicators
Oscillators are largely neutral, offering limited directional clues while some momentum measures lean bearish. That mix creates a market where structure matters more than any single indicator, and traders are relying on support and resistance tests to show intent.
- RSI: neutral at 43.
- Stochastic oscillator: neutral at 21.
- CCI: neutral at -84.
- Momentum indicator: bearish at -7,546.
- MACD: bearish at -146.
- 10‑period EMA: 90,867; 200‑period SMA: 105,248.
Bull and Bear Verdicts
Bull Verdict
If buyers can push and hold price above $91,000 with stronger volume, a short-term recovery toward the $94,000–$95,000 resistance zone becomes plausible. Oscillators being neutral means a breakout would need follow-through from price and volume rather than signals alone. In that scenario bulls could reclaim momentum, but confirmation is required.
Bear Verdict
With major moving averages stacked above the current price and momentum indicators tilting negative, the default direction remains downward unless overhead resistance yields. Low volume and failed breakout attempts would reinforce bearish control, keeping downside risk elevated until a decisive break above key averages occurs.
Why this matters (Почему это важно)
If you run mining equipment in Russia, the current setup affects decisions about selling mined coins or keeping them on balance. Support in the $86,000–$88,000 band gives a reference for where short-term downside might find buyers, while resistance near $91,000 signals where selling pressure could reappear. Neutral oscillators combined with bearish momentum mean price action, not indicators, will likely trigger major moves.
What to do? (Что делать?)
For miners with between 1 and 1,000 devices in Russia, prioritize clear rules and simple checks rather than trying to time every swing. Use support and resistance levels from the charts to guide liquidity decisions, and treat a confirmed break above $91,000 with volume as a sign of improving short-term conditions. Conversely, consider protecting position size if price breaks decisively below the $86,000–$88,000 support zone.
- Monitor price relative to $86K–$88K support and $91K resistance before large sell orders.
- Watch volume on breakouts—wait for conviction rather than acting on thin moves.
- Keep routine risk limits (position size, stop levels) to avoid forced selling in fast drops.
- Delay significant hardware buys until trend and volatility settle.
FAQ
What is bitcoin’s price today? Bitcoin is trading at $89,396 as of January 24, 2026.
What are the key support levels? The primary support zone is between $86,000 and $88,000.
Where is resistance? Immediate resistance is at $91,000, with a larger ceiling around $94,000–$95,000.
Are indicators bullish or bearish? Oscillators (RSI, Stochastic, CCI) are neutral while momentum and MACD lean bearish; moving averages remain above price, implying bearish pressure.
Related reading: price forecast 2026, consolidation analysis.
