【This morning, after Bitcoin formed a short-term double bottom pattern at 50633 and 50528, it rebounded by $1000.】

Feb 22, 2024, 7:55 AM BTC/ETH Support and Resistance Analysis

Bitcoin has now climbed back to around 51900, giving encouragement to those waking up in the Asian market. Never chase after a rise at any time. The secondary market is not lacking in trading opportunities, but it is crucial to have positions when the opportunity arises. Trading is like ancient marching and warfare, avoiding the real and striking the virtual. You cannot rush it, or it will decline and exhaust. That's why we always look for opportunities for double bottoms and triple bottoms, double tops and triple tops in our trading!

Today's BTC Focus

Support: 50500/50900/49000/41100

Resistance: 54200/56000

The upward adjustment of resistance today is because the trend line at the high level is moving upward, which can also be understood as the gradual digestion of selling pressure over time. Therefore, the impact force will form higher waves. Pay attention to the consolidation strength of the trend line at 51900-52100. If it breaks through and stabilizes, there will be a wave of upward trends. If suppressed, it will first retest the 50500-50900 range! The first touch range of the retracement can be worth paying attention to for opportunities!

ETH Focus

Support: 2851/2403

Resistance: 3200

In the absence of major events driving it, Ethereum has stabilized at the 2851 level. There is no need to worry about the short-term trend in the next three to five days. It is possible to buy low on retracements, with the reference point being the previous low. Enter the market in batches to control the average price!

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