Bitcoin has been fluctuating within a narrow range of 80,000—85,300. Since the second probe and rebound on the 12th, I have consistently viewed the rebound as unchanged. The US stock market has also rebounded after testing the weekly MA60 support, similarly looking for a B wave rebound.
Ethereum today has made up for losses and broke through 2,000, with the daily chart also starting to rebound after 8 days of narrow fluctuations.
The Federal Reserve will announce its interest rate decision tonight, with only a 1% probability of a rate cut in March, so it is still advisable to follow the market's own trends.
Bitcoin
After completing the second probe rebound, Bitcoin has been in a narrow range for 9 days. The MACD shows a bottom divergence with the histogram crossing the zero axis, and the MA20 shows slight signs of turning upwards. However, the daily chart has not effectively stood above the MA200, indicating that we are approaching a turning point.
The 4-hour descending wedge and shark pattern are still ongoing, and we are looking towards higher levels.
Support: Pressure:
Ethereum
After breaking below the important weekly support at 2,100, Ethereum has been in a narrow range for a week. This afternoon, it broke through 1,960 on the 4-hour level, reaching 2,034 at the time of writing, breaking through the Fibonacci 0.236 with the next pressures at 2,169 and 2,305.
The market cap of BTC is decreasing while the ETH/BTC exchange rate is rebounding, recovering the low point from the spike on February 3rd, and we continue to look for a rebound internally.
Support: Pressure:
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This article is time-sensitive and for reference only, with real-time updates.
Focusing on K-line technical research, sharing global investment opportunities. Public account: Trader Gongzi Fusu
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