Bitcoin (BTC/USD) Market Outlook Suggests Renewed Bearish Momentum
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Bitcoin Price Prediction – January 9
BTCUSD market outlook suggests renewed bearish momentum. The failed attempt of the higher high formation signals a potential for a massive crash.
The indicators on the daily chart reveal bearish momentum. The MACD histogram shows declining momentum, with both the MACD line and the signal line positioned in negative territory. This suggests increasing selling pressure. Additionally, the price has dropped below the 9-day SMA at $96,980, reinforcing the bearish outlook as short-term momentum aligns with sellers’ dominance.
BTC/USD Market Key Levels:
Resistance Levels: $100,000, $108,390, $115,000
Support Levels: $90,000, $73,840, $66,780
BTC/USD – Daily Chart
The BTCUSD daily chart shows that a bearish move is emerging.
The chart highlights critical price action supporting the bearish direction. After failing to sustain above $102,740, BTCUSD formed a failure swing pattern near $105,000, signaling a potential trend reversal.
The recent break below the $100,000 psychological level further validates the sellers’ control. The liquidity void seen in November may also attract price to the downside.
What is the likely projection of BTCUSD?
BTCUSD will test the $90,000 support level in the coming sessions. If bearish pressure continues, the next key targets are $66,780 and $53,500. However, a rebound above $96,980 could signal consolidation or an attempt to reclaim $100,000, but the bearish structure remains dominant below $102,740.
BTC/USD – Four-Hour Chart
BTCUSD shows signs of a short-term bullish reversal, trading above the MSS at $91,270. The price is testing the 9-period SMA at $93,600, with further upside potential toward the Breaker Block (BB) zone near $99,890.
MACD is recovering from oversold conditions, suggesting momentum is shifting in favor of buyers. A clear break above $99,890 could lead to a retest of $100,000 and potentially $102,740.
Bitcoin (BTC) Current Statistics
The current price: $94,380
Market Capitalization: $1,880,000,000,000
Trading Volume: $58,950,000,000
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