January 22 BTC Price Movement Observation: Bulls and Bears Tug at a Critical Level

Today, the crypto market is not doing well for the bulls. Under the dual pressures of geopolitical tensions and environmental protection sentiments, Bitcoin has been stuck oscillating around $89,000. This is not a sharp decline but rather a frustrating sideways movement—unable to go up, yet not falling either. On the one-hour chart, it’s a repeated bottoming process.

From a technical perspective, it’s simple: weakness. The MA5 moving average is stuck at 88,980.95, and the MA10 is at 89,202.80. The price is being pressed down by these moving averages, clearly showing a bearish alignment. What about volume? Compared to the previous sharp declines, it has decreased significantly. Sellers are releasing positions, but the buying power isn’t keeping up. The rebound lacks momentum, and indicators continue to signal bearishness, with no signs of reversal in the short term.

Currently, the market is focused on two key price levels fighting—downward, between 88,000 and 88,500. This is a recent bottom where accumulation has occurred. If this level holds and volume increases, a technical rebound is possible. On the upside, 90,000 USD is a hurdle—where previous rebounds were knocked back. Without increased volume, breaking through this level is unlikely, and a reversal would be needed. So, the short-term game is a tug-of-war between 88,500 and 89,500.

Funds are also interesting. Liquidations are still happening, mostly long positions, indicating that market confidence among bulls remains low. The enthusiasm for entering the market is very subdued, with extreme caution. Large buy orders are absent. That’s why the market can’t move much and remains stuck in a battle between support and resistance.

In summary, on the one-hour timeframe, BTC is likely to remain in this weak range for now. To move upward, it depends on whether 90,000 can be broken with volume; to go downward, the support at 88,000 must hold. The only operational advice is: don’t be impulsive. Stay light and observant, wait for the range to be broken before taking action, and set stop-loss and take-profit levels carefully.