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 22, 19:29 Beijing time
Market Information
- Hong Kong-listed company Zhu Di Holdings announced the termination of its virtual currency mining business;
- The Supreme Court of Russia is pushing to classify cryptocurrencies as property in criminal cases;
- The sharp decline in the U.S. stock market has exacerbated the difficulties in the cryptocurrency market;
- The U.S. Marshals Service cannot confirm how much Bitcoin it holds, which may affect the U.S. cryptocurrency reserve plan;
- If Trump reviews the U.S. gold reserves, it may drive funds into Bitcoin;
Market Review
Yesterday, Bitcoin rebounded to the pressure near 99000 above the fluctuation range and then fell, failing to break through further. Last night, the U.S. stock market also drove a wave in cryptocurrency, but Bitcoin did not break below the lower fluctuation bottom, with the lowest drop at 94830. The short position we set up yesterday did not hit the stop loss, with the highest point reaching 99431. The drop basically reached the target, with a profit of around 2900 points. Ethereum's highest point reached 2845. Yesterday, I reminded everyone to open a short position after a long upper shadow near 2860 on the 4-hour chart. The upper shadow on the 4-hour chart was also achieved, with the lowest drop at 2614, making a profit of 150 points that could be captured. Congratulations to friends who followed the War God strategy for profiting again. After the drop, the market will still maintain a fluctuating trend;
Market Analysis
Looking at the 4-hour chart, Bitcoin rebounded to the high point of the fluctuation range and then experienced a rapid decline. Although there are reasons related to the U.S. stock market, the market has also reached a pressure position. The drop was quick, but the intensity was not that strong, and it did not test the low point of the fluctuation range. The 8 o'clock line change is expected to produce a solid K-line. The weekend market moves relatively slowly, and the trend will mainly rebound. The intensity still depends on whether the upper pressure of 99000 can be effectively broken. In trading, it is recommended to go long at lower levels, with an entry point near 96000, stop loss at 94700, and target at 98400. Upon reaching the target, pay attention to the upper breakthrough and manage the entry yourself; for short-term trading, control risks and manage profits and losses independently;
ETH:
Looking at the 4-hour chart, Ethereum rose to around 2860 and then fell again. The upper pressure remains effective, and Ethereum's fluctuation range is not very large. The rebound after the drop is almost back to above 2800, so the profit space for going long is not very large. In the short term, pay attention to the breakthrough situation at the 2860 pressure level. If it breaks and stabilizes, it will move towards 3000. Ethereum is in a wait-and-see state; manage it yourself; for short-term trading, control risks and manage profits and losses independently;
In summary:
Bitcoin and Ethereum are still in a fluctuating trend in the short term, continue to pay attention to the breaking of high points;
The article is time-sensitive, pay attention to 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 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 the odds 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 silly. For example, if the market is bullish, once this is confirmed, don’t get too stuck on the position, lower the position a bit, and then get in the car first; at worst, it will reverse.
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