Bitcoin’s “Failed” Breakout Hits Target of $58,000 Return

BitcoinBTCThe pound fell to its lowest levels in more than eight weeks on Tuesday due to macro-headwinds that gave the bulls new worries.

The following are key points.

• Bitcoin toyed around with the 2025-2026 openings, after all. “failed” Breakout from its Multi-Month Range

• Analysis shows that the recent BTC weakness has nothing to do with macroenvironment.

• Bitcoin’s targets include a fall to lows of 15 months.

Bitcoin “breakout failed” The threat of $90,000.

Data derived from TradingView BTC’s price was retargeted at $90,000. This occurred before the first Wall Street session of the week.

The US-EU Trade War, a result of US President Donald Trump’s plan to take control of Greenland, was expected to be explosive.

As traders seek safe havens, precious metals and risky assets are gaining in value.

“Now fully back into the ~$84K-$94K range it has spend the past 2 months in already,” Daan Crypto Trades trader summarizes his summary in this article latest analysis Find out more about X. 

“Breakout failed and doesn’t make for a pretty look now.”

The chart shows the price moving through simple and exponential moving averages (SMAs) on a four-hour basis.

Daan Crypto Trades was interested in the level of support near 87,000 for 2026.

“Been talking about that yearly open likely being taken out at some point as it’s rare to see no wick below on the yearly candle. So better get that out of the way sooner than later if you ask me. Still just observing as I don’t see any reason to trade this chop,” He told X of his followers.

Trader and analyst Rekt Capital, focused on tHe 2025 yearly open at $93,500, a level that was of key importance for the weekly chart.

“In fact, Bitcoin has marginally Weekly Closed above $93500, therefore resembling more the April 2025 Weekly Close above $93500 than the November 2024 one (both green circles),” he wrote A chart explaining Monday’s date is shown below.

“Bitcoin will need to find a way to reclaim $93500 throughout the week to ensure this becomes a successful retest to confirm the breakout from the Weekly Range (black-black).”

What about the $58,000 BTC price again?

According to data from CoinGlass.

Related: BTC vs. new $80K ‘liquidity grab’: Five things to know in Bitcoin this week

The US futures market opened up to the news that fresh trade-war fears.

Keith Alan (cofounder of Trading Resource Material Indicators) argues that Bitcoin bulls were already in trouble despite macro-timing.

“If you were caught off guard by the Bitcoin selloff, you simply haven’t been paying attention to the right things. This move had nothing to do with narratives. We’ve seen it developing in the charts, and have been talking about it for over a month,” The following are some of the ways to get in touch with each other: X post The futures market opens after the open.

Alan pointed out a “so-called “death cross” involving the 21-week and 50-week SMAs, something that in the past has “always led to a macro bottom.”

Cross occurs when the 21-period falling trendline crosses below the equivalent 50-period line. Alan also said that the SMA at 100 weeks was $86,900. He was watching for a rebound.

Peter Brandt is even more depressed, expecting a fall below the $60,000.

Last time BTC/USD was at this level, it was October 2024.

I believe that the market will move from 58k up to 62k. $BTC
It is not necessary to screenshot this for me in the future.
It does not bother me that I am 50% wrong. I am not bothered by being wrong. pic.twitter.com/NDOuSrqLwa

— Peter Brandt (@PeterLBrandt) January 19, 2026