Bitcoin (BTC) Price Analysis for January 23
Analysis
Price Impact
MedThe analysis indicates a potential near-term decline to $88,000 and a longer-term bearish trend possibly testing $85,225 in the next month, suggesting significant downward pressure.
Trustworthiness
MedThe analysis is based on technical indicators and chart patterns, often used by traders, but it is an opinion from a news outlet and includes a disclaimer.
Price Direction
BearishHourly charts suggest a potential decline to $88,000 if a bounce back doesn't occur. the daily chart points to consolidation, while the midterm outlook is 'more bearish' with a potential test of $85,225 support in the next month.
Time Effect
LongWhile short-term (tomorrow) decline is predicted, the overall 'more bearish' picture for the midterm (next month) suggests a sustained downward pressure.
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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 Sellers are dominating over buyers at the end of the week, according to CoinStats . Advertisement Top coins by CoinStats BTC/USD The rate of Bitcoin (BTC) has increased by 0.29% since yesterday. Image by TradingView On the hourly chart, the price of BTC has made a false breakout of the local support at $88,548. However, if a bounce back does not happen by the end of the day, one can expect an ongoing decline to the $88,000 zone tomorrow. Image by TradingView On the longer time frame, the situation has not changed much. The rate of the main crypto keeps accumulating energy for a further move. You Might Also Like Thu, 01/22/2026 - 15:38 Bitcoin (BTC) Price Analysis for January 22 By Denys Serhiichuk In this case, further consolidation in the area of $88,000-$91,000 is the most likely scenario. Image by TradingView From the midterm point of view, the picture is more bearish. If bears' pressure continues, traders might witness a test of the support at $85,225 in the next month. Bitcoin is trading at $89,139 at press time. #Bitcoin Price Prediction