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 27, 15:40 Beijing time
Market Information
- The U.S. House fundraising committee has passed a new resolution on cryptocurrency aimed at reducing reporting burdens;
- Coinbase's fourth-quarter performance reflects changes in the cryptocurrency market, with institutions dominating;
- The CEO of Bank of America stated that banks may launch their own stablecoins;
- Elon Musk stated that he has received "many death threats" due to his work on DOGE.
- After the new chairman took office, one of the remaining two Democrats at the U.S. Commodity Futures Trading Commission will resign;
Market Review
Yesterday, we advised everyone to enter long positions quickly, but the result turned out to be a loss. The market always moves in unexpected ways, with Bitcoin dropping to a low of 82222. The current price has rebounded above 86. After replenishing positions, yesterday's long positions were stopped out around 1800 points. Although Ethereum's decline was not as strong as Bitcoin's, it also hit stop-loss levels, with a low of 2252. After replenishing positions, Ethereum's stop-loss was around 130. Some of the previous profits have been given back to the market. Currently, Bitcoin is showing a rebound. If it does not continue to set new lows this week, it is unlikely to return above 90000 next week. After effectively breaking below the 87000 support, the decline is nearing the next support level. Long positions should still be entered quickly; the market does not fall every day.
Market Analysis
From the daily chart, Bitcoin has rebounded from around 50000 to 110000 and has been oscillating at high levels. This decline has broken the upper oscillation support level of 97000, and the subsequent drop has directly reached the 200-day moving average support for Bitcoin. A doji candlestick has formed on the 4-hour chart, indicating a small rebound signal. As long as the price can stabilize above 90000 again, it will further rise. Conversely, if it cannot break through, the market will face further declines. In trading, we can first go long and then make new arrangements based on the 90000 breakthrough situation. Recommended entry point for long positions is 85500, with a replenishment at 84000, stop-loss at 83000, and a target of 90000, with a breakout target of 90300-90500. Please manage your entry accordingly; for short-term trading, control risks and manage profits and losses independently.
ETH:
From the daily chart, although Ethereum has shown a decline, the bottom of the previous dense oscillation area has not been broken, and the previous low of 2080 has also not been breached. Ethereum's decline is relatively resilient. Continue to maintain the strategy of oscillating within the range, first going long, and pay attention to the breakthrough situation at the 2860 level. Recommended entry point is around 2350, with a stop-loss at 2250 and a target of 2800. After reaching that, watch for a breakthrough at 2860. Please manage your entry accordingly; for short-term trading, control risks and manage profits and losses independently.
In summary:
Both Bitcoin and Ethereum have certain support levels below. In trading, first capture the rebound and then pay attention to breaking through resistance after the rebound.
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;
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 in the market is there 100% certainty? Trading is about trading risks, trying to let the odds be in your favor. Those who give love receive love in return; those who bring blessings will receive blessings. Sometimes, learn to take a little loss, be a bit foolish, and 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。
