The post Bitcoin Crashes to $87K, Trendline Holds: Recovery Rally – What’s Next for BTC? January 22 TA appeared on BitcoinEthereumNews.com.

Bitcoin fell more than $3,000 on Wednesday as investors went into extreme fear mode over the possibility of President Trump levying extra punitive tariffs against various European countries. However, during his speech in Davos, the president pulled back from this measure, allowing Bitcoin to push back to the $90,000 resistance. What’s next for Bitcoin? $3,000 wick caused by Trump speech Source: TradingView In the short-term chart the huge wick down from above $90,000 can be observed. This was almost certainly due to President Trump’s speech at Davos where he walked back on the implementation of sanctions on some European countries, and also withdrew the threat of taking Greenland by force.  The market breathed a sigh of relief, and risk assets such as Bitcoin were given some respite. That said, the crypto sector is still very much back in ‘Extreme Fear’ according to Alternative.me, the crypto market sentiment indicator. The $BTC price is now trading sideways, above the major ascending trendline, and bumping up against the $90,000 horizontal resistance. The task for the bulls is to get above $90K and turn it back into support. A reentry into the ascending triangle would also be a great achievement. With higher time frame moving averages breaking down, the bulls are going to have to get a decent rally going – and soon. The RSI at the bottom of the chart looks promising, as the indicator line has broken through the downtrend, and looks to have confirmed the breakout. BTC price comes down perfectly to golden Fibonacci level Source: TradingView If one takes a Fibonacci from the $80,000 bottom up to the rally top at $98,000, it can be seen that the $BTC price came down precisely to the 0.618 Fibonacci level at Wednesday’s $87,000 bottom. This is a perfect retracement to this golden…

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Filed under: News - @ January 22, 2026 2:23 pm