We can see that #BTC🔥🔥 started to rise before the Fed's interest rate meeting on Wednesday night.

It's obvious that someone knew the news in advance.

Start buying before the news comes out.

After ordinary retail investors know the news, they can only buy at a relatively high price.

On Thursday, the market basically fluctuated within a small range.

Can't go up, can't come down

From here we can see that the purchasing power of the Asian and European markets is currently clearly insufficient.

It is normal that the purchasing power of the Asian handicap is insufficient. Recently, the inscriptions are almost crazy.

As for the recent European session, the reason why the market is relatively sluggish is still unknown.

However, the sentiment in the US market is still very FOMO, and as long as there is some news, it can pull a wave

Judging from the structure of this wave of decline, the current price has rebounded to 0.618-0.66.

But it has not broken through yet and is currently fluctuating between 0.5 and 0.618

Last night, a needle cost about $2,000.

Although this needle is very fast, and from a technical point of view, it can be regarded as filling the gap of this rapid rise

But I always feel that this level of pin is not a very good signal, it is more like the main force is constantly testing the market.

Judging from the K-line pattern, this big Yinxian cross star must be touched

And if we pull the chip distribution in this consolidation area, we can clearly see

This cross star can be said to cover the three positions of VAH, VAL and POC.

So from the perspective of rebound, this cross star is bound to come.

Is this the top of the stage? Let’s look at the daily chart.

Judging from the daily chart, this doesn't look like the top at all.

This tip is too short, and there is no huge amount of explosion

So I personally tend to believe that there will be at least a new high.

It can also be seen from the exchange's holdings that the holdings have been in a declining state

Comparing the previous holdings and market trends

The holding volume of this wave is higher than the holding volume of 48,000 in the previous wave, but the price is still some distance away from 48,000.

Therefore, if we judge from the perspective of exchange holdings, there are two reference standards:

First, the continuous volume hit a new high again, but the price did not hit a new high

Second, the price hit a new high, but the open interest did not hit a new high.

No matter which of these two situations occurs, it can be regarded as a top signal.

I think there are only two positions above Bitcoin, one is 4W5 and the other is 4W8

Currently, it is only one step away from 4W5, so I prefer to at least try 4W5.

As for 4W8, judging from the current trend, I think it is getting further and further away.

However, this possibility cannot be ruled out

Currently, the price of Bitcoin is still driven by news related to ETFs

Personally, I think the news in January should be bad news.

At the current price of Bitcoin, the big money that should have entered the market has already entered the market.

Currently, only retail investors are still in FOMO and keep buying

Therefore, there is a high possibility that this wave of market will end around 4W5.

Today is Friday and the market may continue to fluctuate.

The range should be between 42500 and 43500

Then the market will fluctuate within a narrow range over the weekend, and there may be a final charge next week.