January 17 BTC Hourly Chart Quick Analysis.

The price has been oscillating within the $95,100-$95,300 range, attempting to break above to $95,800 at midday but encountering resistance and pulling back. Support levels have been repeatedly tested around $94,800-$95,000, and currently, the market is in a state of tug-of-war.

From a technical perspective, the outlook is not optimistic. The MA20 and MA100 have formed a death cross, which exerts significant downward pressure. The MACD red bars are continuously shrinking, and the KDJ indicator is showing a death cross signal at high levels. All these signs suggest increasing short-term correction pressure. Trading volume is gradually decreasing, with both bulls and bears appearing cautious, and a wait-and-see sentiment prevailing.

From an operational standpoint, focus should be on the two support levels at $94,800 and $94,200, as a breakdown could trigger a larger correction. Resistance levels are at $95,700-$95,800 and $96,500. Currently, it is recommended to remain cautious and wait for a clearer price direction before making decisions.