The market conditions at 12:33 PM on January 17th are indeed a bit "tiring." BTC/USDT has shown no movement in the past hour, with the price stuck at 95306.77, a change rate of 0.00%, repeating the classic sideways consolidation pattern. But that's not surprising—repeated probing of key levels often looks like this.

From a macro perspective, I still maintain a bullish stance. Although the price has been confined within a narrow fluctuation range in the short term, the core factors remain unchanged: the daily and 4-hour upward structures are still intact, with no signs of critical support being broken, nor obvious divergence in capital flow. The directional judgment remains the same.

Now, let's look at the technical details. The ADX on the daily chart has surged to 48.1, indicating strong bullish momentum. The +DI has reached 29.8, far ahead of the -DI at 10.4. Both OBV and CMF (0.139) tell the same story: funds are flowing in orderly, which is the foundation for maintaining upward momentum on the daily timeframe. Although the 4-hour chart shows consolidation, with ADX at only 10.7, the +DI (21.2) still suppresses the -DI (17.1), and OBV is slowly absorbing (inflow of +4.2%), with no signs of a trend reversal overall.

The issue lies at the 1-hour level. Here, the ADX is 19.8, seemingly indicating an increasing trend, but the bears are actually gaining the upper hand—-DI reaches 22.9, surpassing the +DI at 15.4. OBV and CMF have turned to outflows, and the StochRSI has soared to an overbought region of 97.5. This explains why the price is stagnating here, even with some potential for a pullback. The multi-timeframe consistency score is 61.9%, which is neutral to slightly weak, indicating that signals across different periods are not fully aligned yet.

Liquidity divergence is worth paying special attention to. Overall network data shows that sell orders are indeed dominant (58%), but interestingly, these sell orders are not evenly distributed. Buy orders are relatively concentrated on certain exchanges, while sell orders are clustered on others. Although the largest liquidity pools show a buy/sell ratio of 40:60 (with sell orders slightly ahead), this is not the full story. Behind this divergence, large funds often utilize different platforms' liquidity to deploy or probe, so caution is advised against potential false breakouts.

How to interpret the current position? The price is in a relatively central zone across multiple timeframes, with moderate risk. The daily VWAP is deviated by -9.53%, indicating the price is still below the intraday average cost, but the 4-hour VWAP deviation of +5.65% shows bulls are gaining an advantage. This contradiction precisely reflects the market's oscillating state. The market greed index is at 50, maintaining a neutral sentiment. The large order flow indicates 100% sell dominance, with a net outflow of 546,000 USDT—this is a short-term signal to watch, as funds are leaving at this level.

What’s the specific strategy? Since the daily trend remains positive but the hourly chart faces correction pressure, it’s wise to wait for a pullback before re-entering on dips. The first entry opportunity could be around 95000-95100, where the 1-hour MA20 and dense trading zones are located. Place stops just below the key daily support at 94463, for example at 94300. For targets, first look at the resistance at 96572, then 97000, and finally the previous high near 98000. Given the moderate risk at the current level but short-term correction needs, a 15% light position is recommended.

Key levels to monitor continuously. Currently, 95300 is a psychological level—be alert if it breaks downward. The first support below is at 95302 (1-hour MA20), then further down at 94463 (pivot point S1), and 93620 (pivot point S2). The first resistance above is at 95979 (pivot point R1), then 96572 (Fibonacci 78.6%).

Finally, a crucial insight: liquidity in the market is indeed diverging. While overall sell orders seem dominant, buy support on certain exchanges sustains the daily and 4-hour upward structures. This means that after consolidation, there is still a chance for an upward breakout. The current position is neither the worst nor the best; patience is key. The sideways, narrow-range phase often accumulates energy for the next wave. Instead of blindly chasing highs or panicking at lows, waiting for genuine directional signals in a market with liquidity divergence is the best approach.