Market analysis on February 7. Pay attention to whether the short-term rebound of Bitcoin has ended at the 4-hour level.

CN
3 months ago

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Last night, Bitcoin saw the fifth 15-minute rebound, reaching a high of 63861. The strength of the rebound was not very strong, so it is necessary to be cautious about whether the 4-hour rebound has ended. It is not yet clear whether the 4-hour rebound has ended at 63861 or if it will extend upwards to around 65000. Key points need to be observed.

Personally, I hope Bitcoin can continue to rise, but the short-term 4-hour rebound structure has the potential to end, so close attention is needed.

BTC

Due to the rapid changes in the market, this article can only make predictions based on the market changes at the time of publication. Short-term players should pay attention to the latest market changes and use this information as a reference only.

1H:

1h level

At the 1-hour level, Bitcoin may experience a 1-hour pullback. If the pullback does not effectively break below 62000, there may be another 1-hour rebound towards 65000 or higher. However, if the area around 62000 does not hold, the probability of a new 4-hour pullback is relatively high.

15M:

15-minute level

At the 15-minute level, the strength of the 15-minute rebound is being observed. If it cannot break through 63500 again, there may be a 15-minute pullback to around 62200. If it falls back again, it will mainly depend on whether 62000 holds. If it does not hold, it may reach around 61000 or lower. If it breaks through 63500 again, the continuation of the 1-hour rebound will be observed.

ETH

ETH

Starting from 3524 yesterday, Ethereum has already experienced a 1-hour pullback and is currently running a 15-minute rebound. If the rebound can break through 3500 again, a new 1-hour rebound will be observed. If the short-term 15-minute rebound does not reach 3500, there may be a 15-minute pullback to around 3400. The support below in the short term is at 3400, and breaking below it may lead to a 4-hour pullback.

Note: This article and subsequent articles generally discuss how to view positions above or below certain points, which are usually significant as stop-loss points. For example, at the end of June, we mentioned that if Bitcoin effectively fell below 65000, it was very likely to experience a daily pullback. At that time, the stop-loss position for your long position was actually set at 65000. After the stop-loss, it is generally advisable to observe and then look for suitable opportunities again, rather than holding the position.

Trend Direction

Weekly Level: Upward direction, with the upward target at $180,000.

Daily Level: Downward direction, currently undergoing a pullback from around 72000, retesting the range of 56000 to 59000.

4-hour Level: Upward direction, with an increased probability of a 4-hour pullback if it effectively falls below 62000.

1-hour Level: Downward direction, with the possibility of a 1-hour pullback in the short term, focusing on the support at 62000.

15-minute Level: Downward direction, with the possibility of a 15-minute pullback if the short-term rebound does not break through 63500.

Feel free to follow my public account for further discussion and exchange!

Public Account

This article is time-sensitive, so please be aware of the risks. The above is only personal advice and is for reference only!

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