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Bears are continuing their pressure, and most of the coins are in the red zone again, according to CoinMarketCap.
BTC/USD
The rate of Bitcoin (BTC) has dropped by 3.21% over the last 24 hours.
On the hourly chart, the price of BTC has made a false breakout of the local support of $91,800. As most of the ATR has been passed, there is a chance to see a bounce back.
Related
If the daily bar closes far from the mentioned mark, traders may witness a test of the $94,000 zone soon.
On the bigger time frame, the situation is less positive. The rate of the main crypto is on the way to testing the support of $90,405. If it breaks out, the accumulated energy might be enough for a decline to the $88,000 range.
From the midterm point of view, the picture is also bearish. If buyers lose the vital $90,000 area, the next zone where a bounce back is possible is around $82,000.
Bitcoin is trading at $92,782 at press time.
Source: https://u.today/bitcoin-btc-price-prediction-for-january-9