Bitcoin’s MACD histogram is expanding in the negative region, strengthening bearish momentum; RSI at 44.55 level is neutral but supports the downtrend.
Trend Status and Momentum Analysis
Bitcoin is trading at the $89,676 level as of January 23, 2026, showing a slight 0.30% decline over the last 24 hours. The daily range was between $88,515 – $90,340, while volume remained at moderate levels of 15.56 billion dollars. The overall trend direction is confirmed as downward; the price continues to stay below EMA20 ($91,526) and the Supertrend indicator is giving a bearish signal, along with the $96,750 resistance. Momentum indicators confirm this weak picture: RSI 14-period at 44.55 is in the neutral zone but trading below 50, reflecting selling pressure. The expanding negative histogram in MACD shows that momentum has shifted in favor of sellers. In the EMA ribbon, short-term lines are aligned downward, weakening trend strength. 11 strong levels were identified in multiple timeframes (MTF); 1D has 3 supports/3 resistances, 3D has 1 support/2 resistances, and 1W has 2 supports/3 resistance confluences. This structure carries potential for short-term consolidation or a deeper correction. While volume does not fully confirm the decline, it signals that selling has shifted from accumulation to distribution. The market may test the $89,149 support (score 76/100); in case of a break, $86,736 and $84,681 should be monitored. Above, $90,234 (66/100) is the first hurdle, followed by the critical $92,257.
RSI Indicator: Buy or Sell?
RSI Divergence Analysis
RSI 14-period is currently at 44.55 and positioned in the neutral zone, but with its recent dip below the 50 level over the past weeks, it supports bearish momentum. No regular bearish divergence is observed; as the price makes new lows, RSI is also forming similar lows, implying a healthy continuation of the downtrend. From a hidden divergence perspective, in the recent 1D chart, RSI forming a higher low at the $88,515 bottom level gives a weak bullish signal, but it remains insignificant within the overall downtrend. In the 1W timeframe, as RSI approaches the 40s without entering the oversold region (below 30), it indicates that selling is not exhausted. This configuration emphasizes that buyers have not yet entered and momentum remains on the sellers’ side. If RSI drops below 30, a potential rebound buy could come into play, but the current 44.55 level can be interpreted as a sell signal.
Oversold/Overbought Zones
RSI is away from overbought (above 70) or oversold (below 30) zones; at 44.55, it is neutral but downward biased. RSI’s decline from 55 to 44 over the last 3 days clarifies momentum loss. This situation requires us to expect increased selling pressure for trend continuation. If confirmed by volume, a drop below 40 in RSI could accelerate support/resistance breaks.
MACD Signals and Histogram Dynamics
The MACD indicator is in a bearish position; the signal line is below the MACD line and the histogram is expanding in the negative region. This expansion shows that selling momentum is strengthening and bears are taking control. The lengthening of histogram bars over the last 24 hours confirms the rejection at $90,340 resistance with volume. The signal line crossover is completed downward, reinforcing short-term bearish bias. In 1H and 4H timeframes, the histogram pushing the zero line downward signals potential momentum acceleration. If the histogram starts to contract, momentum could neutralize, but the current dynamics support the downtrend. The 15.56 billion dollar volume partially confirms the MACD signal, but volumes above 20 billion are expected for high-volume selling. This structure increases the risk of price dropping below the $89,149 support.
EMA Systems and Trend Strength
Short-Term EMAs
The price’s inability to stay above short-term EMA20 ($91,526) confirms the bearish short-term trend. There is congestion between EMA10 and EMA50, the ribbon is opening downward, showing momentum weakness. The price’s fixation below EMA20 makes testing the $90,234 resistance difficult. This dynamic emphasizes that trend strength favors sellers.
Medium/Long-Term EMA Supports
Medium-term EMA50 (around $92,000) and EMA200 ($95,000+) are functioning as resistances. The bearish stack of the ribbon (short EMAs below longs) measures the downtrend’s solidity. In the 1W timeframe, EMA100 support is around $88,000; this is a critical hold level. Long-term trend strength is weak, but with MTF confluence, it could extend to $84,681.
Momentum Summary and Expectations
In the synthesis of momentum indicators, bearish pressure dominates: RSI at 44.55 neutral down, MACD negative histogram expansion, price below EMAs, and Supertrend bearish. Volume is at moderate levels, not fully confirming sales but supporting trend continuation. In the short term, if $89,149 support breaks, bearish targets toward $86,736 may activate; recovery remains limited unless $92,257 resistance is surpassed. The 11 levels in MTF may increase volatility. In a potential bullish scenario, $102,000; in bearish, $70,000 targets are on radar. Check detailed data for BTC Spot Analysis and BTC Futures Analysis. Momentum favors selling, but stay cautious until approaching oversold.
This analysis uses the market views and methodology of Chief Analyst Devrim Cacal.
Source: https://en.coinotag.com/analysis/btc-rsi-macd-analysis-january-23-2026-momentum-evaluation
