On Jan 20, 2026, Bitcoin traded near $90.8K after losing key technical support on crypto markets. Veteran trader Peter Brandt said in a tweet that 58k to $62k is where I think it is going.
Brandt shared a chart showing a broadening top, also called a megaphone pattern, which broke lower. The rebound toward $102.2K failed to reclaim support, creating a bearish retest.
Resistance remains near $98.95K and $102.2K, keeping buyers under pressure. The ADX (14) near 33 signals a strong trend, suggesting sellers still control the move.
Short-term traders flagged new CME price gaps around $93K and lower gaps near $88.2K. Analyst CW said in a tweet a new CME gap formed near $93K and BTC may first fill $88.2K then $93K.
On-chain data show holders realizing losses, with CryptoQuant head of research Julio Moreno noting this shift in a tweet that Bitcoin holders realizing losses, for a 30-day period since, late December for the first time since October 2023. This development raises caution for short-term traders.
Another CryptoQuant analyst, MorenoDV_, pointed in a note to the 30-day Fear & Greed average crossing above the 90-day average for the first time since May 2025. The analyst warned the signal should confirm momentum, not act as a standalone trigger.
