NewsBTC
Jan 16, 2026
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Bitcoin Price Corrects Gains After Surging Above $97,500

Bitcoin's price is experiencing a fresh increase, surpassing $96,000, and is correcting some gains with potential for decline to $94,000 before another rise.

  • The price has risen above $95,000 and $96,000, trading over the 100 hourly SMA.
  • A declining channel or bullish flag with resistance at $96,200 is forming on the BTC/USD hourly chart.
  • Stability above $95,000 might lead to further increases, with resistance near $96,000 and key resistance at $96,200.

Bitcoin Price

  • Next resistance levels are $97,000, $97,800, $98,800, $99,200, and potentially $100,000.
  • If unable to break $96,200 resistance, potential decline with immediate support at $95,000 and major support at $94,000.
  • Further declines may target $93,000, $91,850, and main support at $91,500.

Technical Indicators:

  • Hourly MACD: Losing pace in the bullish zone.
  • Hourly RSI: Below 50 level.
  • Major Support Levels: $95,000 and $94,000.
  • Major Resistance Levels: $96,200 and $97,000.