"Market Analysis on January 29: The Rebound Comes Again, Can the Key Support Hold?"

Bitcoin yesterday surged to the resistance level of 90,600 that we mentioned, then started to retrace. It seems there are still quite a few trapped positions above 90,000, and after opening short positions, the price is inevitably making a comeback. If it goes further down, there’s nowhere else to retreat; the support at 87,700 mentioned yesterday was ineffective, so we might need to look at lower levels. However, from a short-term 1-hour perspective, the current position cannot go lower, or the 1-hour chart will show a poor performance. On the daily chart, although the volume is not a big problem, the actual coin price closing with a bearish candle today still carries some risk. What exactly the whale manipulators are selling remains uncertain, and we can only patiently wait.

$BTC The support level given yesterday for Bitcoin was 87,700. It paused here in the morning and slightly rebounded. Today, if the price falls below the support at 87,600 again, it will drop to 86,900. The resistance at 88,800 is the dividing line between bulls and bears; if it goes up, look at the resistance at 89,900.

$SOL Sorezi is completely Yang Wei. After dropping here, the original 125 level again becomes the dividing line between bulls and bears. If it goes up, look at the resistance at 127; support levels are at 121 and 119.

$ETH Ethereum’s support yesterday was in the range of 2940-2950. It slightly rebounded here in the morning. The resistance at 2990 is the key level; if it goes up, look at the resistance at 3030. The low point in the morning was broken again, so support is now at 2880.

In summary, the market’s rebound again, and Bitcoin’s 1-hour chart remains at a critical position. Although the daily indicators show no major issues, the short-term rebound has reached such a crucial level. Today’s market can only be hoped for, and the morning low should not be broken again. Otherwise, if the daily candle closes bearish, the subsequent market may not look good... If you don’t understand the market or are unsure about the direction, welcome to join the Chief. Click to join the Chief community (Follow the Chief for daily latest market analysis and precise entry points; long and short positions are for reference only, with strict stop-loss and take-profit).