Bitcoin price targets extend down to $58K as BTC prints new death cross

3 hours ago

Bitcoin (BTC) slid to eight-day lows connected Tuesday arsenic macro headwinds gave bulls caller headaches.

Key points:

Bitcoin toys with the 2025 and 2026 yearly opens aft a “failed” breakout from its multimonth range.
Current BTC terms weakness is not a effect of the macro environment, investigation says.
Targets for Bitcoin see a comedown to 15-month lows.

Bitcoin “breakout failed” arsenic $90,000 looms

Data from TradingView showed BTC terms enactment retargeting $90,000 anterior to the week’s archetypal Wall Street trading session.

This was tipped to beryllium volatile acknowledgment to a potent operation of geopolitical and macroeconomic forces, main among which was the reemergence of the US-EU commercialized war, acknowledgment to the former’s plans for Greenland.

With tariffs backmost connected the cards, hazard assets suffered portion precious metals deed caller all-time highs arsenic traders sought harmless havens.

“Now afloat backmost into the ~$84K-$94K scope it has walk the past 2 months successful already,” trader Daan Crypto Trades summarized successful his latest analysis connected X.

“Breakout failed and doesn't marque for a beauteous look now.”

An accompanying illustration showed terms sliding done its 200-period elemental (SMA) and exponential (EMA) moving averages connected four-hour timeframes.

For Daan Crypto Trades, the 2026 yearly unfastened adjacent $87,000 was present of involvement arsenic a imaginable enactment level.

“Been talking astir that yearly unfastened apt being taken retired astatine immoderate constituent arsenic it's uncommon to spot nary wick beneath connected the yearly candle. So amended get that retired of the mode sooner than aboriginal if you inquire me. Still conscionable observing arsenic I don't spot immoderate crushed to commercialized this chop,” helium told X followers.

Trader and expert Rekt Capital, meanwhile, focused connected the 2025 yearly unfastened astatine $93,500 — a level that was of cardinal value for the play chart.

“In fact, Bitcoin has marginally Weekly Closed supra $93500, truthful resembling much the April 2025 Weekly Close supra $93500 than the November 2024 1 (both greenish circles),” helium wrote Monday alongside an explanatory chart.

“Bitcoin volition request to find a mode to reclaim $93500 passim the week to guarantee this becomes a palmy retest to corroborate the breakout from the Weekly Range (black-black).”

Back to $58,000 for BTC price?

Exchange order-book information showed signs of panic connected the day, with liquidations hitting $360 cardinal successful the 24 hours to the clip of writing, per information from CoinGlass.

Overnight Sunday, liquidations spiked arsenic US futures markets opened to quality of fresh trade-war fears.

Despite the macro timing, however, Keith Alan, cofounder of trading assets Material Indicators, argued that the penning had been connected the partition for Bitcoin bulls.

“If you were caught disconnected defender by the Bitcoin selloff, you simply haven't been paying attraction to the close things. This determination had thing to bash with narratives. We've seen it processing successful the charts, and person been talking astir it for implicit a month,” an X post stated aft the futures open.

Alan pointed to a alleged “death cross” involving the 21-week and 50-week SMAs — something that successful the past has “always led to a macro bottom.”

The transverse occurs erstwhile the falling 21-period trendline crosses nether the 50-period equivalent. Alan added that helium was looking astatine the 100-week SMA for a bounce, which is present astatine $86,900.

Even much downbeat was seasoned trader Peter Brandt, who eyed a retreat beneath the $60,000 mark.

The past clip that BTC/USD traded astatine that level was successful October 2024.

58k to $62k is wherever I deliberation it is going $BTC
If it does not spell determination I volition NOT beryllium ashamed, truthful I bash not request to spot you trolls surface changeable this successful the future
I americium incorrect 50% of the time. It does not fuss maine to beryllium incorrect pic.twitter.com/NDOuSrqLwa

— Peter Brandt (@PeterLBrandt) January 19, 2026

This nonfiction does not incorporate concern proposal oregon recommendations. Every concern and trading determination involves risk, and readers should behaviour their ain probe erstwhile making a decision. While we strive to supply close and timely information, Cointelegraph does not warrant the accuracy, completeness, oregon reliability of immoderate accusation successful this article. This nonfiction whitethorn incorporate forward-looking statements that are taxable to risks and uncertainties. Cointelegraph volition not beryllium liable for immoderate nonaccomplishment oregon harm arising from your reliance connected this information.

View source