Preface: Investment involves risks, please proceed with caution.
Article review takes time, there may be delays in publication. The article is for reference only, welcome to read!
Time of writing: 14:51, February 22, Beijing time
Market Information
- BlackRock's Bitcoin spot ETF saw a net inflow of $96.5 million yesterday;
- EthHub co-founder: Believes that the spot ETH ETF will be approved before May 23;
- Coinbase outlines three reasons to recommend SEC to approve Grayscale's spot Ethereum ETF;
- Source: The U.S. Senate Banking Committee is not yet ready to take action on the crypto anti-money laundering bill;
- Fed meeting minutes: Policy rates may have reached the peak of this cycle, most officials are aware of the risk of too rapid rate cuts;
- S&P Global: A spot Ethereum ETF may increase the centralization risk of ETH;
Market Review
Yesterday, we expected a small opportunity for a decline in Bitcoin during the day, and indeed it successfully declined. The lowest point of the decline was at 50,528, and it rebounded after reaching the bottom of the box oscillation at 50,733. The strategy of shorting high and longing low around the box oscillation is still valid. After reaching the bottom of the box at 50,528, Bitcoin started to rebound. Currently, the highest point of the rebound is at 51,991, and the oscillating trend continues. Ethereum also experienced a small pullback, but did not reach the predicted target range below 2840, with the lowest point reaching 2867. However, short positions still yielded some small profits. The market fluctuated slightly yesterday, but it still provided some small profits. If Bitcoin and Ethereum do not continue to rebound, the opportunity for a decline in the market will be greater, so it is still advisable to short high and long low for day trading.
Market Analysis
BTC:
Looking at the 4-hour chart, Bitcoin is still oscillating at high levels. It briefly broke the lower point of the oscillation range yesterday but did not continue to decline. After a rebound, it returned to the box oscillation range. Although I personally favor a breakthrough to the downside, it's best to have a mental expectation until the market shows a substantial decline. The trading strategy for Bitcoin is still to short high and long low. Pay attention to the breakthrough of the high point at 53,090 and the short-term rebound near 52,300. After reaching these points, make short positions based on the situation, and follow the oscillation strategy. Set stop-loss orders for breakthroughs. The range is still 53,090-52,600. Take advantage of entry opportunities on your own; control risks for short-term trading, and manage profits and losses on your own.
ETH:
Looking at the 4-hour chart, the trend of Ethereum is showing continuously higher lows. The subsequent decline after the rebound did not break the previous pullback low, and although the decline in Bitcoin was not significant, it formed a lower shadow, indicating that the upward momentum is not as strong as before. Initial signs of a decline are emerging, and there is also some pressure around 3000 on the 4-hour level. Overall, Ethereum may provide an opportunity for a pullback. Pay attention to the breakthrough of the high point at 3036 during the day. As long as the low point of 3036 is not broken, the subsequent decline below the low point of 2867 from yesterday's Ethereum is not a big issue. For day trading, those who had short positions yesterday can continue to hold, and those who did not can make new layouts near 3000. The target is still to first look at 2840-2790, and then consider breakthroughs after reaching these points. Take advantage of entry opportunities on your own; control risks for short-term trading, and manage profits and losses on your own.
In summary:
Bitcoin and Ethereum have shown a small breakthrough of the short-term low, which is a prelude to a decline. We still need to wait for confirmation of the decline in the market.
The article is time-sensitive, pay attention to the risks, the above is only personal advice, for reference only!
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