2.20BTC/ETH Market Outlook:

Yesterday, Thursday, the high short-term idea was not executed, as the rebound was too weak, and the price bottomed out at 65,595 to stop the decline. Currently, the price is around 67,200. The daily candle closed with a small bullish candle, and the KDJ and RSI are turning upward. The MACD bullish momentum is continuing to expand. From the indicators, there is a need for a rebound correction, but the trend has not changed—still bearish! Currently, the market is in a range-bound consolidation, with strong support at 65,000. As long as this level holds, the market is likely to rebound. The strong resistance above remains at the 70,000 level. If it cannot stabilize here, the market could drop at any time. The major range is around 70,000-65,000, and the direction of breakout will determine the trend. Avoid overly subjective predictions and chasing the market on rallies or panicking on dips!

On the 4-hour chart, the price has rebounded and is testing the middle band resistance. After the KDJ golden cross, it has turned upward, and the MACD bullish volume is also increasing. On the hourly chart, after finding support at the lower band and stopping the decline, the price has rebounded and is testing the upper band resistance. Both the upper and middle bands are rising and opening upward. However, after the KDJ becomes overbought at high levels, it turns downward, and the three lines converge to form a death cross. The RSI is also turning downward. If traders missed the long positions, it’s no longer suitable to chase the rally here!

For intraday trading, continue to short on rallies. Specific levels, resistance points, and short entry points are not detailed here. #Gate广场发帖领五万美金红包 $BTC