Bitcoin (BTC) experienced continued bearish pressure in mid-January 2026, with technical analysis pointing to potential further declines. According to CoinStats data, BTC's price fell by 2.17% on Monday, January 19, following a 0.48% decline the previous day. Despite a weekly gain of 4.51% recorded on January 18, the overall trend showed increasing bearish momentum.
On January 18, Bitcoin was trading at $95,056 after failing to break through the local resistance at $95,249 on the hourly chart. Analysts noted that if the daily bar closed near support, traders could expect a test of the $94,500 range. The midterm perspective highlighted the importance of the weekly bar closure relative to the $95,938 level, with potential declines to the $92,000 area if sellers seized control.
By January 19, Bitcoin had dropped to $92,901, trading within a local channel between support at $91,917 and resistance at $93,632 on the hourly chart. The daily Average True Range (ATR) indicated low chances of sharp price movements, while longer time frames showed neither bulls nor bears had gained clear initiative, with low volume confirming the lack of momentum from either side.
Technical analysis suggests sideways trading in the $93,000-$94,000 zone is the most likely scenario in the coming days. However, as long as the price remains below the $95,938 level, bears maintain greater power, potentially leading to further correction. The accumulated energy from a potential breakout of the $94,249 level could drive declines into the $92,000-$94,000 range.
