BTC Bitcoin Price Analysis: $88K Support Zone Comes Into Focus

2026-01-21 13:13:52

⬤ Bitcoin’s price action is getting serious attention as it moves through what looks like a broader Elliott Wave correction. BTC has likely kicked off wave B of a larger wave (4), which puts the spotlight on some critical near-term support levels. The chart on lower time frames shows the corrective nature of the recent drop from local highs—and it’s painting an interesting picture.

⬤ Right now, all eyes are on a tight micro support zone between roughly $88,029 and $88,900. This range could be where wave B of (4) finds its footing, potentially setting up an upward reaction into wave C of (4). After a sharp pullback, price is consolidating near this zone, and Fibonacci retracement levels are backing up its technical significance.

BTC has likely begun wave B of a larger wave (4), shifting technical focus toward near-term support levels.

⬤ The setup also maps out projected resistance tied to wave (4), sitting above current prices. These resistance zones frame how far a corrective rebound might reach if wave C actually develops from support. But here’s the thing—this scenario isn’t locked in. The $88,029 to $88,900 range is the key area to watch for price reaction. If Bitcoin breaks below this zone and stays there, the wave structure weakens, and we might be looking at a deeper correction.

BTC-3,22%

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