Hello everyone, I am trader Gege. Continuing from the last time, Bitcoin rebounded at the 95400 line in the early morning, moving slowly upward in a V-shaped recovery. It is currently testing the resistance at the 97500-98000 line, with the daily K-line pulling up to test the mid-track. Next, we will see if it can continue to stabilize. If it can break through the 98500-99500 line with a strong upward movement, then the market will end its consolidation and welcome a reversal. This wave of excessive decline followed by consolidation that has lasted for half a month will be declared complete.

The 4H technical outlook leans towards bullish, but if there is no substantial breakthrough near the EMA200, which is the upper resistance area of the range, then we cannot be too optimistic about chasing the rise. Instead, we should be cautious and not worry about missing the opportunity. As mentioned before, if the left side doesn't work, then wait for the right side. After all, the recent market is like a bad boyfriend with three principles: no commitment, no responsibility, and no continuation. Once confirmed, going with the trend is also acceptable.

I mentioned yesterday that the market has high expectations for a second probe after the excessive decline, but what we got was an extreme range-bound fluctuation. There is a probability of moving against the market's consensus, but the key point remains whether the upper range can break through and stabilize. From a technical review perspective, the probability of a second probe after an excessive decline is quite high. Bitcoin's K-line has made a small probe, but I did not take that action. Therefore, if this wave of rebound breaks through the range, the key trend line resistance above must not be substantially breached, or the risk of a downward move remains.

So in the short term, we still cannot look for a big one-sided move, but rather walk while waiting for the K-line to provide better feedback, focusing on short-term references. Although the timing is about right and the technical outlook leans towards bullish, I do not want to gamble on the rise and chase it as long as the range is not broken. A little more patience and always staying calm is important, just like driving; don’t always rush to accelerate, safe driving is the most important.

Short-term suggestion for Bitcoin on 2.19: Short at the 98300-98800 line, Long at the 95500-95000 line, with a stop loss of 600 points, looking for 1000-2000 points.

Short-term suggestion for 2.19: Short at the 2780-2810 line, Long at the 2650-2630 line, with a stop loss of 50 points, looking for 80-120 points.

Suggestions are for reference only. Please manage your risk when entering the market, and control your profit and stop-loss space accordingly. Specific strategies should be consulted in real-time.

Alright, friends, we will say goodbye until next time. I wish everyone success in their trading and smooth sailing in the crypto world! More real-time suggestions will be sent internally. Today's brief update ends here. For more real-time suggestions, find Gege.

Written by: I am trader Gege, a friend willing to accompany you in your resurgence.

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