Bitcoin (BTC) stays below promoting stress after shedding key technical help. Veteran dealer Peter Brandt has warned that the present construction nonetheless factors decrease. His focus is on the $58,000–$62,000 vary, which he considers the subsequent main space to observe following the current breakdown.
Peter Brandt Targets $58K–$62K
Peter Brandt wrote that “58k to $62k is the place I believe it’s going,” maintaining his bearish view on Bitcoin. He shared a chart displaying a broadening high sample, also referred to as a megaphone setup. The sample fashioned with wider swings earlier than the worth slipped by the decrease help line.
After that breakdown, Bitcoin bounced and climbed again towards $102,200. Nonetheless, the transfer did not regain misplaced help and reversed decrease, becoming the definition of a bearish retest. Brandt’s draw back zone additionally sits near $58,840, which matches the $58,000–$62,000 vary he referenced.
58k to $62k is the place I believe it’s going $BTC
If it doesn’t go there I’ll NOT be ashamed, so I don’t must see you trolls display screen shot this sooner or later
I’m fallacious 50% of the time. It doesn’t hassle me to be fallacious pic.twitter.com/NDOuSrqLwa— Peter Brandt (@PeterLBrandt) January 19, 2026
Bitcoin peaked close to $126,000 in early October 2025 earlier than reversing decrease. The drop confirmed a accomplished high construction and pushed BTC down into the November low. It later stabilized and moved right into a rising channel, however the rebound has not cleared key ceilings.
Notably, two resistance ranges stay in focus at $98,950 and $102,200. Bitcoin has struggled to shut above each zones. So long as the asset stays beneath them, consumers face a tricky restoration path.
In the meantime, the ADX (14) sits close to 33, which factors to a robust development surroundings. With Bitcoin nonetheless buying and selling beneath key shifting averages, the studying helps the concept that sellers nonetheless management the broader transfer.
Bitcoin trades close to $91,000 at press time, down about 2% over 24 hours and 1% within the final seven days. Buying and selling quantity stands above $38 billion. Renewed geopolitical tensions and tariff rhetoric from US President Donald Trump have added stress to danger property, together with Bitcoin.
CME Gaps and On-Chain Loss Indicators
Brief-term merchants are additionally monitoring CME value gaps forming round $93,000. Analyst CW mentioned “a brand new CME hole has fashioned round $93,000,” including that BTC could “first fill the CME hole round $88.2k, after which the CME hole at $93k.” That outlook factors to a dip-and-rebound state of affairs if consumers defend the decrease zone.
On-chain information provides one other layer of concern. CryptoQuant head of analysis Julio Moreno mentioned Bitcoin holders are actually realizing losses, with the 30-day Realized Web Revenue/Loss turning unfavourable for the primary time since October 2023.
Bitcoin holders realizing losses, for a 30-day interval since, late December for the primary time since October 2023. pic.twitter.com/OGsPYm8714
— Julio Moreno (@jjcmoreno) January 20, 2026
One other CryptoQuant analyst, MorenoDV_, additionally pointed to a doable shift in sentiment primarily based on the Concern & Greed Index development. The analyst mentioned the 30-day common has crossed above the 90-day common for the primary time since Might 2025, describing it as a setup the place “short-term sentiment is bettering sooner than the broader baseline.”
Even so, the analyst warned that the sign works greatest as affirmation and never a set off. If the short-term common fails to carry above the long-term line, it might recommend “optimism lacked depth and conviction” throughout a fragile market part.
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