PANews reported on January 20th that, according to Cointelegraph analysis, both the Bitcoin miner indicator and the market sentiment index recently issued "buy"PANews reported on January 20th that, according to Cointelegraph analysis, both the Bitcoin miner indicator and the market sentiment index recently issued "buy"

Analysis: Bitcoin shows bullish signals, $90,000 becomes a key price level.

2026/01/20 19:02

PANews reported on January 20th that, according to Cointelegraph analysis, both the Bitcoin miner indicator and the market sentiment index recently issued "buy" signals simultaneously, bringing positive signs to the market. The Hashband indicator (measuring the 30-day and 60-day moving averages of hashrate) has shown a "buy" signal, suggesting that the miner capitulation phase may be ending. This signal historically often coincides with significant price discounts and long-term buying opportunities. The last time this signal appeared was in July 2025, after which Bitcoin rose 25% to an all-time high. Meanwhile, the 30-day moving average of the Crypto Fear & Greed Index crossed above its 90-day moving average for the first time since May 2025, suggesting that market sentiment is shifting from long-term fear to positivity.

Analysts emphasize that $90,000 is a key psychological and technical support level that Bitcoin must hold. This level coincides with the 200-period moving average on the 4-hour chart and the lower trendline of the weekly bearish flag pattern. If it holds, buyers remain in control, and a rebound is expected. However, if the weekly closing price falls below this level, it could further decline to the $80,000 to $85,000 area, or even test the April 2025 low of $74,500 and the 200-week moving average of $68,000.

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