January 30th BTC/ETH:

After the Federal Reserve meeting, unexpected events return, and the market is in despair!

Last night, precious metals plunged from high levels, and cryptocurrencies followed with a waterfall decline, liquidating $1.6 billion in 24 hours. Yesterday, it was clearly stated that the market would undergo a round of secondary decline, waiting above 8800 for a rebound, with the lowest expected to be around 8100. A drop of 7000 points was indeed somewhat unexpected. The market is like life—surprises and unexpected events coexist. Planning ahead can largely avoid surprises; what’s left are just pleasant surprises?

BTC
The current trend has dipped near the daily support level. If it falls below 8060 again, it will trigger a weekly correction, with a target of 7500. From the current small-scale trend, the four-hour candlestick shows a bullish engulfing pattern and RSI oversold coexistence, indicating a bottoming formation. The intraday rebound resistance is around 8340-8450. Only a rebound that breaks through and stabilizes above these two levels can be considered a trend reversal. Depending on the situation, wait for a rebound at these levels. It’s not wise to chase now; in the short term, focus on retesting the support!

Range around 8160-8200, with a support at 8080, and a target of breaking through 8340 to look towards 8450-8550.

ETH
Range around 2672-2698, with a support at 2625, and a target of breaking through 2742-2783 to look towards 2836.

Short-term trading should be flexible and adaptable. Support levels depend on your actual position!#加密市场回调