In-depth analysis of the market trends of BTC, ETH, and SOL on the afternoon of January 29, 2025.
The essence of the BTC big cycle is still the box oscillation between 90,000 and 108,000. There are not many opportunities for one-sided market trends; short-term operations are more suitable.
During this period, while it seems that the market fluctuates greatly, there are also many one-sided opportunities, overall, they are mostly emotional markets, difficult to grasp, and the trends are disorderly. Technical analysis has become severely blunt during this time, making it hard to operate.
Aside from 90,000 and 108,000, there is currently no effective and clear strong support and resistance in the market.
Technical analysts should try to watch more and act less during this period, waiting for the right opportunity.
Currently, ETH's support at 3,000 points is indeed strong,
However, given that BTC is hesitant to initiate a bullish trend, ETH is currently a good opportunity for long positions. Once BTC's bullish trend is established, then we can consider a correlated layout with ETH.
The current operational approach for SOL is the same as for ETH,
SOL has also reached significant support around 229. Although there might be some slip, it still has a certain supportive effect overall. Right now, we must also wait for the establishment of BTC's bullish trend before considering laying out long positions in SOL. If the big brother has no direction, even if various altcoins seem bullish, they dare not operate easily.
