Bitcoin (BTC) Price Analysis for January 1
Analysis
Price Impact
MedBitcoin has seen a slight decline of 0.41% over the last 24 hours. on the hourly chart, it is attempting to break local resistance, potentially leading to an upward movement. however, the bigger timeframe is less bullish, and midterm analysis suggests consolidation within a wider channel due to low trading volume.
Trustworthiness
HighThe analysis is based on technical indicators and chart patterns from a reputable crypto news source, u.today, using tradingview data.
Price Direction
NeutralWhile there's a potential short-term bullish move if hourly resistance is broken, the overall market is 'mainly falling,' and the midterm view points to consolidation between $85,000-$90,000, suggesting no strong directional bias in the immediate future.
Time Effect
ShortThe analysis discusses hourly movements and potential outcomes by the 'end of the week,' indicating a focus on immediate to very short-term price action and consolidation.
Original Article:
Article Content:
Cover image via U.Today Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. Read U.TODAY on Google News The market is mainly falling on the first day of the new year, according to CoinStats . Advertisement Top coins by CoinStats BTC/USD The price of Bitcoin (BTC) has declined by 0.41% over the last 24 hours. Image by TradingView On the hourly chart, the rate of BTC is breaking the local resistance of $87,881. If buyers can hold the initiative and keep the price above that mark, the growth is likely to continue to the $88,500 area. Image by TradingView On the bigger time frame, the picture is less bullish. The price of the main crypto has not bounced off far from the support at $86,561. You Might Also Like Thu, 01/01/2026 - 15:04 XRP Price Analysis for January 1 By Denys Serhiichuk The volume is also low, which means traders might not see sharp ups or downs by the end of the week. Image by TradingView From the midterm point of view, the situation is neutral. The rate of BTC is in the middle of the wide channel between the support at $80,836 and the resistance at $94,172. As neither side is dominating, consolidation in the area of $85,000-$90,000 is the more likely scenario. Bitcoin is trading at $87,906 at press time. #Bitcoin Price Prediction