BTCUSD Remains Within A Clearly Defined Bearish Environment

Market Analysis – January 23

BTCUSD remains within a clearly defined bearish environment, with both trend direction and momentum indicators continuing to reinforce downside dominance. Price action stays firmly below the 9-day moving average near $92,930, highlighting sustained short-term control by sellers. The MACD remains positioned beneath the equilibrium line with an expanding negative histogram, signaling ongoing downside pressure rather than a temporary corrective move. Repeated failures to reclaim dynamic resistance levels confirm that recovery attempts are being actively sold into, reinforcing a defensive market tone.

BTCUSD Key Levels

Supply Levels: $102,110, $110,540
Demand Levels: $85,010, $74,420

BTCUSD Long-Term Trend: Bearish

Market structure continues to support this outlook, as price has maintained a consistent sequence of lower highs and lower lows since the rejection near $94,650. Upside attempts into this supply zone have repeatedly failed, unwinding quickly back toward the $89,300 region and signaling distribution-driven behavior. Former support around $92,900 has now flipped into a firm resistance band, with sustained acceptance below it reinforcing bearish control. Liquidity sweeps above short-term highs have lacked continuation, highlighting fragile and reactive buying interest.

From a projection standpoint, the technical landscape remains skewed toward further downside exploration. Sustained trading below $89,300 increases exposure to the next structural demand zone near $85,010, where a temporary reaction could emerge. A decisive breakdown below $85,010 would likely extend losses toward the $74,420 level, in line with the measured projection of the prior bearish impulse. Unless BTCUSD can reclaim and hold above $94,650 on a daily closing basis, downside scenarios remain dominant.

BTCUSD Short-Term Trend: Bearish

On the four-hour chart, BTCUSD maintains a bearish bias, with price trading below the 9-period moving average near $89,570 and MACD momentum remaining negative. The recent decline from the $94,650 area confirmed a lower high and reinforced downside control following rejection from the overhead supply zone around $93,000. Structurally, the break below trend support near $91,600 shifted control decisively toward sellers, while subsequent rebounds have shown limited buying commitment. As long as price remains capped below $93,000, downside pressure is likely to persist toward $86,350 and potentially the $85,010 demand zone, a scenario closely tracked through prevailing crypto signals.

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