Bitcoin Market Analysis for January 16th

Good evening everyone, I am a seasoned trader. Last night's market movements have made some people's happiness even fuller. Thanks to the volatility, and also thanks to myself for getting through it.
The advice given during the evening session on the 14th was to short above 3380 around 3300+, while the market's actual operation triggered both sides. The short position on Bitcoin at 97,500 has also had multiple profitable opportunities. Many friends who haven't experienced a dual kill on both long and short sides for the first time are feeling the joy of harvesting both the sun and the moon. Simply put, it's about raiding back and forth. This is common in markets with good volatility.
Recently, two groups of people need to pay attention to. The first group is overly motivated by positive energy, because only those who haven't achieved results need motivation. The second group is like the arrogant new trader , who, despite being bullish for a week, correctly predicted the direction and captured the volatility, but extremes can reverse, and early-month situations can occur. I don't recommend going against my signals; just refer to key levels. Of course, to prevent such situations, I will consider more factors.
First, we continue yesterday's approach, observing consolidation and accumulation, preparing for a second upward attack. Building momentum precedes following the trend; only by acting as the main force can we anticipate the main force's expectations. Let's review today's market.
Bitcoin on the 1-hour chart shows multiple MA and EMA levels moving smoothly upward. The EMA7 is riding on the 30, leveraging a jump. Early on the 14th, it initially tested 96,800, after spending a day around the previous high of 94,800. At 10 PM, it continued to increase volume for a second push, with high-volume selling, obvious distribution, and mixed buying and selling. However, the downward pressure was weak, and the pullback was not strong. The subsequent movement was within the 98,000-95,800 range, oscillating mainly around 96,500-96,800. This zone is destined to become a new point of divergence. If Bitcoin drops from 98,000 and pulls back to around 96,500, the upward momentum will be strong, and there’s no suspense. But the market has tested the lower levels, indicating that further confirmation is needed. Otherwise, the foundation for the future market will be unstable.
The key upper zone is between 97,200 and 97,500, while the lower zone is between 95,200 and 95,800. Currently, on the 1-hour and 4-hour charts, multiple MA and EMA levels are still climbing upward, so the movement will likely involve some tug-of-war and accumulation. The structural range is expected to be within 94,800-98,000, with the core zone narrowing to 95,800-97,500.
Ethereum's pattern forms a W shape, with focus on a few key levels: the early morning spike at 3380, the consolidation core around 3330, and the second pullback near 3280. Looking at the details, whether during the rally or the second rebound, there is selling pressure at 3380. Structurally, no pressure signal has formed yet; only signs of distribution. Therefore, we need to consider whether Ethereum is about to form a central pivot point, accumulating strength for the next upward move. The closest zone now is around 3330. This is the midline for distribution and the support zone below at 3380-3280, which has already upgraded four times.
Going forward, we consider building a central pivot point. Entry points can be taken in batches around 95,800 and 3330, with additional positions at 94,800 and 3280. For short positions above, consider 97,200-97,500, with no additional entries, and a stop loss at 98,200. For Ethereum shorts, target 3388 with a stop loss at 3422.