January 30, 2025 Afternoon Bitcoin Market Analysis
The early morning BTC market's initial decline followed by a rise actually indicates that the market's expectations for the Federal Reserve to pause interest rate cuts have already been digested, or in other words, it hasn't been taken too seriously. Coupled with Powell's usual ambiguous statements, saying a lot of vague things, the market only saw a symbolic drop. The subsequent increase actually reflects that the bullish momentum in the market is still stronger than the bearish side.
Currently, there are several challenges in the market:
1. The fundamentals are still eagerly waiting for the stimulus from [Trump's new policy], so the market hasn't been able to drop for a long time;
2. On the technical side, apart from the significant support at the 90,000 level, there is no effective support in the short term. Everyone knows they should buy on dips, but where is considered 'low'? It's very hard to determine if a correction has completed;
3. The market's volatility is extremely large, and the emotional market is very obvious. The disorderly fluctuations make short-term operations difficult, seemingly providing a large space for fluctuations, but in fact, it's hard to grasp the buying and selling points;
4. There is a potential danger to note, as shown in the chart: the market has not yet approached the 106,000 level. In previous instances, there have been quick reversals near this level, and now as we approach this price again, caution is needed for a potential rapid correction!
