January 17 Market Snapshot: Bitcoin has been oscillating on the 4-hour chart. From the market perspective, this is not a crash but a typical technical adjustment—long lower shadows one after another, indicating that the buying pressure in the 94,500 to 95,000 range is still quite strong.

To put it simply, the current pullback is just a routine correction. As long as it doesn't break below 94,500, the upward framework remains intact. What does this wave of correction mean? It’s a buildup. The market is stepping back to prepare for two steps forward.

Focus on these two key levels—above 95,800 is resistance, below 94,500 is the bottom line. If we can hold above 94,500, then the outlook remains bullish; if 95,800 hits a wall and bounces back, don’t rush—short-term shorting opportunities might arise.

Currently, the market is still brewing; until a clear direction emerges, look for signals that support a stable stance within the support zone. If it drops, have the confidence to set up long positions, but wait for confirmation. Remember—before a breakout, a pullback is always a good opportunity to add to your positions on dips. Don’t be scared off by short-term volatility.