2026-01-29 14:43:46

Analysis for the evening of January 29, 2026

Bitcoin shows short-term sideways movement with a slight weakness, with significant bullish and bearish divergence

News: The Fed's rate cut expectations have cooled down, funds are flowing from Bitcoin to gold and silver for safe-haven, crypto ETF outflows are ongoing, and with regulatory bill discussions approaching, market panic is intensifying; however, institutions are quietly increasing their holdings, and selling pressure below has decreased.

Technical: Current price around $88,000, support at $85,000, resistance at $90,000, daily chart weakening, indicators approaching oversold, likely to fluctuate within a range.

Trading suggestion: Do not blindly buy the dip or chase the short; consider buying near the rebound at around $88,800–$90,400, with targets near $87,200–$86,300.

The above is only personal advice for reference and does not constitute investment guidance. Please follow Cheng Jingsheng's layout for specific strategies!$BTC

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NaveedContrarian

2026-01-29 14:35:38

🚨🚀 $PAXG Just Jumped 33% – What's Really Happening Here?

Let me break down what this chart is showing you, because PAXG is making some serious moves right now.

What I'm Seeing:

$PAXG has absolutely rocketed from around $4,181 to $5,584 – that's a massive climb in just a short period. The price shot past $5,637 earlier today before settling back slightly. When you see that kind of vertical green candle with huge trading volume (that big spike at the bottom), it tells me a lot of money just rushed in fast.

But here's what has me tapping the brakes: the RSI indicator at the bottom is sitting at 92.46. Think of RSI like a pressure gauge – it measures whether something is overheated. Anything above 70 is considered "overbought," and we're way past that. At 92, this move is extremely stretched and likely needs to cool off.

Why This Surge Happened:

Remember, PAXG is backed by actual physical gold – each token represents real gold in a vault. When you see moves like this, it usually means people are getting nervous about traditional markets or currencies, so they're flooding into gold as a safe haven.

Here's My Honest Take:

Yes, the trend is clearly pointing up – no question about it. But buying right now, after a 33% spike with RSI at 92? That's like jumping onto a train that's already at full speed. It's risky.

The smarter play? Wait for it to catch its breath. I'd be watching for a pullback to around the $5,085 level (that green moving average line) or even down to $4,600. When that first dip happens and people start panic-selling, that's usually when the real opportunity shows up.

Want a Game Plan?

I can map out specific entry points based on the support levels in this chart – places where the price might stabilize and give you a better, safer entry. Just say the word and I'll put together a strategy for you.

#GoldBreaks$5,500 #BitcoinFallsBehindGold #PAXG #FedKeepsRatesUnchanged #CryptoMarketWatch

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