#Gate广场创作者新春激励 Breaking Alert! BTC drops below 93,000, ETH loses support at 3,230, the bulls and bears in the crypto market are intensifying. Is it a bottoming opportunity or just waiting on the sidelines?

January 19, 2026, marks a tense moment for the crypto market! Bitcoin (BTC) sharply plunges below the $93,000 level, Ethereum (ETH) declines over 3% simultaneously, and the total liquidation volume across the network surges, spreading panic. Is this correction a brief pause in the upward trend or the start of a new wave of retracement?
Technical Warning Lights: Two Major Coins Signal Adjustment
From a technical perspective, both BTC and ETH are entering short-term correction cycles, with multiple key indicators issuing warning signals that warrant close attention.
1. Bitcoin (BTC): Daily chart turns weak, beware of death cross risk On the daily chart, BTC has clearly broken below the EMA20 moving average ($92,673.25), and the Supertrend indicator has officially turned bearish. This indicates that the short-term bullish momentum has been exhausted, and the correction phase has officially begun. The RSI is currently at 59.83, still in the neutral zone but showing a downward trend, with upward momentum clearly lacking; more critically, the MACD shows signs of forming a death cross. Once confirmed, it will likely accelerate the price decline. From a multi-timeframe resonance perspective, the hourly chart shows a clear downward trend, with prices moving below short-term moving averages. Each rebound appears weak, and the battle around $92,000 has become intense. If this level is lost, the next target will be directly at $91,000. Additionally, the weekly chart shows a potential bearish divergence, with long upper wicks indicating strong resistance at the $100,000 level. Short-term, it’s unlikely to break through easily, and high-level consolidation is probable.
2. Ethereum (ETH): Lengthening green bars, support levels at risk ETH’s technical pattern is weaker than BTC’s. The daily chart also shows a break below the EMA20 ($3,256.8), and the Supertrend indicator has turned bearish. RSI is at 52.3, showing a neutral to weak stance with insufficient upward momentum. The MACD green bars are lengthening, and the death cross signals are becoming more evident. Support near zero line is crucial; once broken, the correction could deepen further. The Bollinger Bands show ETH’s price has fallen below the midline, with the band narrowing, indicating increased market volatility. The lower band around $3,180 is a key short-term support; if broken, it could trigger a move down to $3,150. The hourly chart also shows weak rebounds, with repeated tests of the $3,200 support. Failure to hold this level could worsen short-term sentiment.
Bearish Resonance: Macro + Regulatory Pressure Cooling Market Sentiment
This correction in the crypto market is not an isolated event but a resonance of macroeconomic factors and market sentiment. Three major bearish factors deserve attention:
1. Changing macro environment: The appointment of a new Federal Reserve Chair has dampened expectations of rate cuts, leading to higher US Treasury yields and a stronger dollar. Under this backdrop, risk assets globally are under pressure. As representatives of high-risk assets, Bitcoin and Ethereum naturally decline in tandem. Coupled with ongoing US-EU tariff tensions and increased stock market volatility, market sentiment for crypto is further dampened.
2. Deteriorating capital sentiment: Liquidation volume across the network has been increasing over 24 hours, with short positions rising. Panic sentiment is intensifying. Historically, concentrated liquidations of high-leverage positions often trigger chain reactions, and breaking key support levels could lead to a cascade of sell-offs. Current signs show capital fleeing the market, making a quick recovery unlikely in the short term.
3. Regulatory uncertainty: The progress of the US “Clear Act” remains a focus, but its passage within the year is uncertain. Regulatory disagreements directly impact institutional capital inflows. Without additional capital support, the market will struggle to sustain previous upward momentum, likely remaining in a volatile correction phase.
Bottoming or Waiting?
The safest approach to the current correction is to avoid blindly bottom-fishing or panicking into selling. Considering short-term volatility and medium- to long-term trends, here are two strategies for different risk preferences:
1. Short-term trading (intraday/4-hour): Light positions, strict risk control For short-term traders, it’s recommended to adopt a “light position” approach, avoiding high leverage:
- BTC short opportunities: When rebounding to the $94,000–$95,000 range, if RSI remains below 60 and MACD confirms a death cross, consider small short positions with a stop-loss above $95,500 (near daily high), targeting $92,000–$91,000.
- BTC long opportunities: If price stabilizes at $91,900 and RSI rises above 50, try small long positions with a stop-loss below $91,000, targeting $93,500–$94,000.
- ETH short opportunities: When rebounding to $3,270–$3,300, if RSI stays below 55 and MACD shows a death cross, consider small shorts with a stop-loss above $3,340, targeting $3,200–$3,180.
- ETH long opportunities: If price stabilizes at $3,190 and RSI rises above 50, try small longs with a stop-loss at $3,150, targeting $3,260–$3,280.
2. Medium-term positioning (daily/weekly): Patience and stabilization before action For medium-term investors, the key strategy is “waiting for stabilization” to avoid premature entries:
- BTC: Focus on the $90,000 support level. If it stabilizes here, consider phased building with a stop-loss below $88,000 and targets at $98,000–$100,000. If it breaks below $90,000, it’s advisable to stay on the sidelines until clearer signs of stabilization appear.
- ETH: Watch the critical support zone at $3,150–$3,180. If it stabilizes, consider phased entries with a stop-loss at $3,100 and targets at $3,350–$3,400. If it breaks below $3,150, it’s better to exit and avoid further downside risk. Risk control threshold: whether short-term or medium-term, keep positions within 30% and avoid high leverage at all costs. Keep a close eye on US stock trends, the dollar index, and ETF fund flows. If macro sentiment worsens, adjust strategies immediately.
Market Outlook: Consolidation or Correction? The Key Signals
In the short term, BTC is likely to oscillate within the $91,000–$95,000 range, while ETH trades between $3,190–$3,300.
The market direction depends mainly on two key signals:
First, whether macro sentiment improves. If expectations of Fed rate cuts reignite and US stocks stabilize, capital may flow back into crypto, with BTC potentially challenging $98,000–$100,000, and ETH testing $3,350–$3,400.
Second, whether key support levels hold. If BTC drops below $90,000 or ETH below $3,150, it could trigger a deep correction, with BTC targets at $88,000–$85,000 and ETH at $3,100–$3,050.
Final reminder: The current market is highly volatile with intense bulls and bears battles. All operations should prioritize risk management. Use technical indicators and news dynamics to adjust strategies accordingly. Avoid blindly chasing gains or panic selling.