Bitcoin (BTC) Price Analysis for January 16

2026-01-16 20:21:31

Source: CryptoNewsNet Original Title: Bitcoin (BTC) Price Analysis for January 16 Original Link: https://cryptonews.net/news/bitcoin/32289769/ Most of the coins are in the red zone today, according to CoinStats.

BTC/USD

The rate of Bitcoin (BTC) has declined by 1.23% over the last 24 hours.

On the hourly chart, the price of BTC is going down after a breakout of the local support at $95,135. If the daily bar closes far from that mark, traders may witness a further drop to the $94,000 zone tomorrow.

On the longer time frame, the rate of BTC keeps declining after yesterday’s bearish closure.

If the bar closes near its low, there is a high chance of seeing a test of the $93,000-$94,000 range by the end of the week.

From the midterm point of view, one should pay attention to the weekly bar’s closure in terms of the $95,938 level. If it happens far from it, bears may seize the initiative, which might lead to a decline to the $90,000-$92,000 range.

Bitcoin is trading at $94,541 at press time.

BTC-0,38%

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