Bitcoin (BTC) Price Analysis for January 8
Analysis
Price Impact
HighThe analysis indicates a significant potential price drop for bitcoin, with immediate targets around $89,000 and a midterm possibility of testing the $80,000-$85,000 range. this level of decline represents a high impact for traders.
Trustworthiness
MedThe analysis uses specific technical indicators like support/resistance levels and false breakouts, presented by a recognized crypto news outlet. however, it relies solely on technical analysis without considering broader market or fundamental factors, making it one perspective among many.
Price Direction
BearishBtc has declined by 2% in 24 hours. the price made a false breakout of the resistance at $94,652, indicating bears are currently more powerful. further drops to $89,000 and potentially the $80,000-$85,000 range are projected if current resistance holds.
Time Effect
LongWhile hourly charts show immediate declines, the 'midterm point of view' suggests that if the weekly bar closes unfavorably, a test of the $80,000-$85,000 range could occur 'shortly', implying a more extended bearish trend beyond just a single day.
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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 rise has not lasted long, and most of the coins are again in the red zone, according to CoinMarketCap . Advertisement Top coins by CoinMarketCap BTC/USD The rate of Bitcoin (BTC) has declined by 2% over the last 24 hours. Image by TradingView On the hourly chart, the price of BTC has made a false breakout of the local support at $89,530. You Might Also Like Wed, 01/07/2026 - 16:25 SHIB Price Analysis for January 7 By Denys Serhiichuk However, if a bounce back does not happen by the end of the day, one can expect an ongoing correction to the $89,000 zone. Image by TradingView On the longer time frame, the rate of the main crypto is going down after a false breakout of the resistance at $94,652. Until the price is below that mark, bears remain more powerful than bulls, which means that a drop remains the most likely scenario. Image by TradingView From the midterm point of view, the picture is similar. The price of BTC has bounced off the resistance at $94,652. If the weekly bar closes far from that mark, traders may witness a test of the $80,000-$85,000 range shortly. Bitcoin is trading at $90,468 at press time. #Bitcoin Price Prediction