#Gate广场创作者新春激励 Sudden Adjustment! BTC falls below 93,000, ETH loses the 3,230 support, and the bulls and bears in the crypto market are intensifying. Is it a bottom-fishing opportunity or just waiting on the sidelines?

January 19, 2026, marks a tense moment in the crypto market! Bitcoin (BTC) sharply drops 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 round of decline?
Technical Warning Lights: Two Major Coins Show Correction Signals
From a technical perspective, both BTC and ETH are entering correction phases in the short term, with multiple key indicators issuing early warning signals that warrant close attention.
1. Bitcoin (BTC): Daily chart turns weak, caution for death cross risk
On the daily chart, BTC has clearly broken below the EMA20 (92,673.25 USD), and the Supertrend indicator has turned bearish. This indicates that the short-term bullish momentum has been exhausted, and a correction cycle has officially begun. The RSI is currently at 59.83, still in the neutral zone but showing a downward trend with insufficient upward momentum. More critically, the MACD shows signs of forming a death cross; once confirmed, it will likely accelerate the price decline. From a multi-timeframe 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 USD is heating up. If this level is lost, the next target will be directly at 91,000 USD. The weekly chart also shows potential bearish divergence, with long upper wicks indicating strong resistance at the 100,000 USD level. Short-term, it’s unlikely to break through easily, and high-level consolidation is probable.
2. Ethereum (ETH): Lengthening green bars, support level at risk
ETH’s technical outlook is weaker than BTC’s. The daily chart shows it has also broken below the EMA20 (3,256.8 USD), and the Supertrend indicator has turned bearish. RSI is at 52.3, indicating a neutral-weak bias 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; if broken, the correction could deepen further. The Bollinger Bands show ETH price has fallen below the midline, with the opening narrowing, suggesting increased market volatility. The lower band around 3,180 USD is a key short-term support; if broken, it could trigger a move toward 3,150 USD. The hourly chart also shows weak rebounds, with repeated tests of the 3,200 USD support. Failure to hold this level could worsen short-term sentiment.

Bearish Confluence: Macro + Regulatory Double Pressure, Market Sentiment Cooling
This correction in the crypto market is not isolated but results from macroeconomic factors and market sentiment resonance. Three major bearish factors deserve attention:
1. Changing macro environment: The change in the Federal Reserve chairperson candidate has significantly cooled expectations for rate cuts, leading to rising US Treasury yields and a strengthening dollar. Under this backdrop, global risk assets are under pressure, and Bitcoin and Ethereum, as high-risk assets, naturally decline in tandem. Additionally, ongoing US-European tariff tensions and increased stock market volatility further dampen market sentiment.
2. Deteriorating capital sentiment: The total liquidation volume across the network continues to rise over 24 hours, with short positions increasing. Market panic 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 of capital fleeing the market suggest short-term sentiment is unlikely to recover quickly.
3. Regulatory uncertainty: The progress of the US “Clear Bill” 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 in the short term.

Bottom-fishing or Waiting?
The most prudent approach to the current correction is to avoid blindly bottom-fishing or panicking sell-offs. Combining short-term volatility with medium- and 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 trading” approach, avoiding high leverage:
- BTC short opportunities: When rebounding to the 94,000-95,000 USD range, if RSI remains below 60 and MACD confirms a death cross, consider small short positions with a stop-loss above 95,500 USD (near intraday highs), targeting 92,000-91,000 USD.
- BTC long opportunities: If the price stabilizes at 91,900 USD and RSI rises above 50, try small long positions with a stop-loss below 91,000 USD, targeting 93,500-94,000 USD.
- ETH short opportunities: When rebounding to 3,270-3,300 USD, if RSI stays below 55 and MACD shows a death cross, consider small shorts with a stop-loss above 3,340 USD, targeting 3,200-3,180 USD.
- ETH long opportunities: If the price stabilizes at 3,190 USD and RSI rises above 50, try small longs with a stop-loss at 3,150 USD, targeting 3,260-3,280 USD.
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 USD support level. If it holds, consider phased building with a stop-loss below 88,000 USD and targets at 98,000-100,000 USD. If broken, stay on the sidelines and wait for clearer stabilization signals.
- ETH: Watch the critical support zone at 3,150-3,180 USD. If it stabilizes, consider phased entries with a stop-loss at 3,100 USD and targets at 3,350-3,400 USD. If broken, consider exiting to avoid further correction risk.
Risk control red line: Regardless of short-term or medium-term, keep positions within 30% and avoid high leverage. Stay alert to US stock trends, USD index, and ETF fund flows. If macro sentiment worsens, adjust strategies immediately.

Market Outlook: Volatility or Rebound? The Key Signals
In the short term, BTC is likely to oscillate within the 91,000-95,000 USD range, while ETH trades between 3,190-3,300 USD.
The market direction depends mainly on two key signals:
First, whether macro sentiment improves. If expectations for rate cuts reignite and US stocks stabilize, capital may flow back into crypto, with BTC potentially challenging 98,000-100,000 USD and ETH testing 3,350-3,400 USD.
Second, whether key support levels hold. If BTC drops below 90,000 USD or ETH below 3,150 USD, it could trigger a deep correction, with BTC targets at 88,000-85,000 USD and ETH at 3,100-3,050 USD.
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.