BTC Price Update – 19 January
Bitcoin is currently trading around 93,000.
On the Daily timeframe, $BTC is still forming higher highs, which keeps the overall structure bullish.
Price got rejected near 97,924.
The reason was clear. The market was overbought and needed a pullback.
On the 4H timeframe, this move looks like a healthy correction, not weakness.
$BTC dropped from 97,924 to 91,910, almost a 6 percent move, which is normal in strong trends.
What does this really mean
Strong trends do not move straight up. They pause, reset, then continue.
Right now, price is hovering near a strong demand zone between 92,000 to 92,500, where buyers may step in.
On the Monthly timeframe, the area between 102,000 to 104,000 is a strong rejection order block, also known as a FVG order block.
This zone is expected to act as major resistance if price reaches there.
Trade Idea Summary
Entry Zone
92,000 to 92,500
Stop Loss
89,500
Targets
102,000
104,000
This setup is based on structure and higher timeframe levels, not emotions.
I am not a financial advisor.
Do your own research.