January 16, 2026

Short-term view of Bitcoin: high-level consolidation with a slight pullback. Initially, focus on the 95,000-97,000 range for trading. The pullback should primarily hold the 94,800-94,000 support zone; breaking below increases the risk of further decline.

The market does not move in a straight line; mastering the rhythm within oscillations is key to profitability. After Bitcoin surged near 97,000 and then retreated, short-term bulls and bears are in a tug-of-war. Identifying support and resistance levels before taking action is more prudent.

US Bitcoin spot ETF still sees net capital inflows, with institutions like BlackRock continuously increasing holdings to form support. However, the digital asset-related legislation review has been delayed, and regulatory uncertainty suppresses market sentiment. Short-term selling pressure has not yet been fully released.

The daily candlestick encountered resistance near 97,000 and closed bearish. MACD shows increasing volume but slowing down, indicating weakening upward momentum. The four-hour chart forms an ascending flag pattern, with the middle band of the Bollinger Bands at 94,500 serving as a key support. MACD shows signs of top divergence, suggesting a technical correction is needed.

Trading suggestions: If the price stabilizes after a pullback to the 94,800-94,000 zone, consider entering a small long position with a stop loss below 93,800. Target 96,000-96,300; upon breakout, aim for around 97,000.
If a rebound reaches the 96,300-97,000 zone and encounters resistance, consider a small short position with a stop loss above 97,200. Target 95,000-94,800.

These are personal suggestions only and for reference purposes. They do not constitute investment advice. Please follow Jing Sheng Shi Pan's layout for specific guidance.