Preface: Investment carries risks, and operations should be cautious.
Article review takes time, and there may be delays in publication. The article is for reference only, welcome to read!
Article writing time: February 24, 11:58 AM Beijing Time
Market Information
- Market sentiment is stable, and the cryptocurrency fear and greed index remains neutral;
- Greeks.Live: The community holds a bullish attitude towards Ethereum but is concerned it may drop back to $2600;
- President Trump stated that he will check the Fort Knox gold reserves with Elon Musk to ensure it is still there;
- South Dakota lawmakers plan to hold a hearing next week to review a bill allowing Bitcoin investment in the state.
- The Russian Supreme Court is pushing to classify cryptocurrencies as property in criminal cases;
Market Review
Bitcoin and Ethereum continued to show a volatile trend over the weekend. The entry point given on Saturday around 96 is currently close to the cost price. Ethereum's rise was strong, but after reaching resistance around 2860, it again closed with a pin bar and moved down. It is advisable to trade with a volatile mindset. Currently, Ethereum has touched resistance and is showing a decline. Bitcoin long positions should continue to be held, and trading should maintain a low long strategy;
Market Analysis
BTC:
Looking at the 4-hour chart, Bitcoin is currently operating below the volatile range, with some support below. The long positions we set up around 96 can be added again near 94700. For those who haven't entered, directly enter near 94700, with a stop loss at 93400, which is also the previous low point of the decline. If this level breaks, it may break the support below. The rebound target is set around 98500. If it breaks 995, we can make new arrangements based on the trend. The market is expected to have no significant rebound today; the rebound should occur tomorrow night or the day after. Maintain some patience in trading, ensure protection, and seize entry opportunities; for short-term trading, control risks and manage profits and losses independently;
ETH:
Looking at the 4-hour chart, Ethereum has been pushed back several times around 2860, without breaking through. On Saturday, since the price was close to 2860, no long positions were set up. Currently, the pressure is effective, and a pullback is expected before setting up long positions again. On the 4-hour chart, Ethereum's highs are continuously rising, and the lows are also rising, which is a good sign. There is a significant opportunity for a breakout in the next wave. It is recommended to enter around 2670, with a stop loss at 2600 and a target of 2800-2860. Hold if it breaks through, and seize entry opportunities; for short-term trading, control risks and manage profits and losses independently;
In summary:
Both Bitcoin and Ethereum are showing a volatile trend in the short term. Trading should continue to maintain a volatile mindset and focus on breakouts;
The article is time-sensitive, be aware of risks, the above is only personal advice, for reference only!
Follow the WeChat public account "Crypto Lao Zhao" to discuss the market together;
The root of all suffering is the pursuit of certainty. Impermanence is the norm and the way life should be. Always wanting to grasp the market, not trading with a 50% certainty, not trading with a 70% certainty, must wait for a 100% certainty—where is there a 100% certainty in the market? Trading is about trading risks, trying to let the odds be in your favor. Those who give love will receive love in return; those who bring blessings will receive blessings. Sometimes, learn to take a little loss, be a bit foolish, a bit clumsy. For example, if the market is bullish, once this is confirmed, don’t get too stuck on the position, lower the position size a bit, and then get on board first; at worst, it will reverse.
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