Life is full of ups and downs, and stumbling is inevitable. However, no matter how many times you fall, you must stand up strong again. At any time, regardless of the confusions you face in life or the setbacks you endure, no matter how difficult the road is or how bleak hope becomes, please do not despair; success will surely belong to you!
Yesterday's market is hard to describe. After briefly falling below the 80,000 mark, the overall market sentiment was dominated by pessimism. Most opinions suggested that it would continue to test the validity of support further down. However, after finally dropping to around 78,200, the market began to rebound step by step, reaching above 86,000 at present, recovering the losses from yesterday. In yesterday's operations, our plan was to observe the continuation of the weak market and primarily focus on shorting, but we ultimately exited with a stop loss, resulting in a failed short position, waiting for the next trading opportunity.
Today, a piece of news emerged in the market: the White House will hold its first cryptocurrency summit on March 7, with Trump personally presiding and delivering a speech. This summit will gather big names from the crypto industry, VCs, CEOs, and members of the White House Digital Assets Working Group. It is currently unclear whether the content of the summit will be beneficial to the market, but considering Trump's previous stance, the market expects that positive news may be released. As we mentioned yesterday, at this stage, policy news has a significant impact on the market. Therefore, in the period leading up to the conference, it is likely that the market will first rebound to a certain area and then enter a consolidation phase, waiting for specific news to emerge before moving into a new phase.
On the chart, under the trend of oversold rebound, the four-hour K-line has formed a V-shaped reversal. The price has risen above the short-term moving averages, and currently, the four-hour cycle shows a strong bullish pattern after the initial rebound following a decline. However, since the daily cycle remains in a bearish trend, the small cycle rebound has not yet led to a resonance of the bullish cycle. Additionally, with the weekend approaching, there will be some impact on market liquidity, so the market may operate within a fluctuating range over the next two days. Furthermore, if the small cycle rebound fails to break through effectively, it may trigger a continuation of the bearish trend on the daily level. Therefore, from a macro perspective, the market still maintains a dominant bearish trend, and the current rebound should be viewed as a temporary adjustment within that trend. On the four-hour level, short-term resistance is at 87,000, and short-term support is at 84,000, which can be used for short-term operations. On the daily level, resistance is at 89,000 and 92,000, with cycle support at 78,000.
In comparison, Ethereum's rebound is relatively weaker, with short-term resistance at 2,320 and short-term support at 2,100, maintaining a view of consolidation over the weekend.
Today, other cryptocurrencies have slightly improved due to Bitcoin's rebound, but compared to previous declines, the improvement is still negligible. At this stage, high-quality cryptocurrencies from earlier remain the primary focus during the downward process.
【The above analysis and strategies are for reference only. Please bear the risks yourself. The article is subject to review and publication, and market conditions change in real-time. The information may be outdated, and specific operations should follow real-time strategies. Feel free to contact us for discussions on market conditions.】
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