#数字资产市场动态 BTC Technical Analysis | Market Key Levels on 1.16

Recently, Bitcoin on the 4-hour chart showed a death cross signal, and during the night, it directly retested around 95,000. This level is not chosen randomly—it coincides exactly with the 0.382 Fibonacci retracement level of the recent rebound from 90,066 to 97,932, and it is also the middle band of the 4-hour Bollinger Bands. So, the 95,000 level is now a critical support.

What’s interesting here is that both the 6-hour and 8-hour timeframes show divergence at the top, indicating that the 1-hour correction may not be over yet. In other words, there could still be some turbulence ahead, building a consolidation zone before continuing downward.

From the minute charts, the market is forming a descending LH/LL flag pattern for a correction. The immediate strong support is around 94,000-93,500. Short-term bulls looking to catch a bottom can focus on this range; conversely, the key resistance to watch is at 97,700. If the price tests and breaks through this level again, Bitcoin could have a chance to head straight toward the 100,000 mark.

Of course, there are several positive news events expected to land soon, which will be the real factors determining the direction of this wave.

The market is uncertain—unexpected good news could come, or it could fail. At this point, the best approach is to stay calm and wait for the right moment. The goal of trading is to make steady profits, not to tinker every day. This week’s performance proves it—on Wednesday, a long position was set at 94,700; on Thursday, a decisive short was taken at 97,000. Patience in waiting for key levels allowed capturing both the rebound and the correction.

Recommended strategy: Go long in the 94,000-93,500 range, targeting 97,500-98,000.