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 17, 11:25 AM Beijing Time
Market Information
- The National Library of El Salvador will establish a Bitcoin section;
- Bitwise Chief Investment Officer: This year, Bitcoin adoption will reach a turning point, with more companies and countries expected to increase their holdings;
- Texas, USA, will hold its first public hearing on establishing a Bitcoin reserve on February 18;
- President Trump's cryptocurrency czar David Sacks stated that "some important announcements" regarding digital assets are forthcoming.
- Tether is actively communicating with U.S. lawmakers about stablecoin regulatory legislation, which may be signed into law by Trump in April;
Market Review
There was a break in updates during the New Year period, and we are now resuming updates;
Previously, we predicted that Bitcoin would reach 110,000, and indeed it did reach that point before starting to pull back. Ethereum, on the other hand, did not provide a significant rebound before beginning its correction. Currently, Bitcoin has been in a sustained period of fluctuation, with the lowest point in the recent drop at 91,130. After a pin bar, it continues to fluctuate. In the future, we will focus on the breakout of the fluctuation range, trading within the range by going short at highs and long at lows;
Market Analysis
BTC:
From the daily chart, after Bitcoin reached 110,000, it did not continue to rally. After dropping to 91,130 and forming a pin bar, it began to fluctuate within a range. The 91,130 level has not broken below the previous low. The support level from the drop from 110,000 is around 93,400. After the daily line dropped to this level and formed a pin bar, the overall support remains effective. The short-term resistance above at 99,400 has not been broken, and it generally starts to pull back after reaching that level. Currently, the fluctuation range is 99,400-95,500. In trading, we can maintain a low long and high short strategy for light trading. If there is an effective breakout, meaning the daily line stabilizes, the market will continue. Personally, I believe the chances of a rebound are greater. Recommended strategy: go long around 95,500, stop loss at 94,000, target at 98,500. If it breaks 99,400, look for 100,600. If a long upper shadow appears near 99,400, consider exiting long positions and setting up short positions, targeting around 95,500. Manage entry opportunities yourself; for short-term trading, control risks and manage profits and losses independently;
ETH:
From the daily chart, Ethereum's performance is too weak. It did not provide an effective rebound earlier and directly dropped below the previous low to a minimum of 2,080. After that, it also formed a pin bar, but following Bitcoin, it did not show a rebound and continued to fluctuate. Ethereum's rebound is still too weak, making it suitable for shorting. Currently, the fluctuation range is 2,560-2,865. The short-term support after Ethereum's rebound is around 2,560. In trading, we should also focus on the breakout of the range, with the bottom level to watch being 2,560. Recommended strategy: go long around 2,560, stop loss at 2,470, target around 3,850. If it effectively breaks 2,865, look for around 3,100. If a long upper shadow appears near 2,860, consider going short to around 2,560. Manage entry opportunities yourself; for short-term trading, control risks and manage profits and losses independently;
In summary:
Bitcoin and Ethereum are currently in sustained fluctuations, focusing on breakout ranges;
The article is time-sensitive, be aware of risks, and the above is only personal advice for reference!
Follow the WeChat public account "Crypto Lao Zhao" to discuss the market together;
All suffering stems from the pursuit of certainty. Impermanence is the norm and the way life should be. Always wanting to grasp the market, not acting on a 50% certainty, not acting on 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 probabilities stand on your side. 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 that is confirmed, don’t get too rigid with your position, lower your position size a bit, and then get in first; if it reverses, so be it.
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
