Will Btc go down further?

BTC is likely to continue its short-term pullback, with medium-term support strength in focus and a long-term bullish bias, but it needs to overcome key resistance.

Current trends and triggering factors

• On January 19, BTC briefly dropped to $92,600, a decrease of about 3% within 24 hours, with nearly $600 million in long positions liquidated. The main reasons were overcrowding in the long positions, profit-taking, and a cautious macro sentiment.

• The weekly level is still in a normal pullback within an upward trend, and the monthly chart still shows positive returns, with no panic selling observed in the market.

Key price levels and probability of decline

• Short-term support: $92,000-$92,600 (daily low and EMA50). If broken, it looks down to $91,000-$91,300 (low from 4 hours ago and Fibonacci key level).

• Medium-term support: $88,000-$89,500 (previous platform and weekly support). A break below this may trigger a deeper adjustment to around $80,000.

• Resistance: $95,000 (recent upper range of fluctuations). If surpassed, it will ease short-term downward pressure.

• Probability assessment: The short-term (1-3 days) pullback probability is about 60%-70%; if $91,000 is lost, the pullback may expand to 10%-15%; holding above may lead to consolidation in the $92,000-$95,000 range.

Operational suggestions

• Short-term: A rebound to $94,000-$95,000 can be a light short position, with a stop loss at $95,500; a pullback to $91,000-$92,000 stabilizing can be a small long position, with a stop loss at $90,500.

• Medium-term: If it breaks below $89,500, reduce positions and observe; if it holds, maintain positions and wait for a breakthrough above $97,000-$98,000 to add to positions.

• Risk control: Strictly control position size (not exceeding 30%), set stop losses, avoid high leverage, and guard against extreme volatility.

Short-term downward pressure has not been fully released, with a high probability of probing the $91,000-$92,000 support; if the support holds, the medium term may see a return to an upward trend; if it breaks below $88,000, the time and space for adjustment will expand.#btc