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Bitcoin's performance on the afternoon of January 18th was nothing surprising. As of that time, the price hovered around $95,100 (approximately 665,300 RMB), up 0.12% within an hour, but it still retraced 0.07% over the past 24 hours. Overall, it's just a repeated struggle at high levels, a typical high-level consolidation trend.
Weekend trading volume is usually sparse, liquidity is relatively weak, and it's hard for prices to break out into a strong directional move. It looks like in the short term, the price will fluctuate within the range of $95,000 to $95,300, with limited volatility.
From a technical perspective, the 1-hour candlestick shows a small bullish candle, with the Bollinger Bands' gap very narrow, and the price is running close to the middle band. The RSI indicator is around 52, neither overbought nor oversold, indicating a completely neutral stance. This signal suggests one thing — neither bulls nor bears have the upper hand for now.
The capital flow also confirms this. The 24-hour trading volume is average, with a turnover rate of only 0.97%, indicating that large funds are not strongly involved in pushing for a breakout. Without capital support, the probability of a breakout from the range is low.
Key levels to watch are $95,300 as resistance above. If the price can hold steady here, it may attempt to challenge $95,500 later. Support is at $95,000; if broken, the price could continue to decline toward $94,800 for support.
Overall, during this weekend period, the prudent approach is to operate within the range and not expect any major moves. Market sentiment is cautious, investor participation is low, and in this environment, chasing highs or building short positions should be approached with caution.