Preface: Investment involves risks, please proceed with caution.
Article review takes time, and there may be delays in publication. The article is for reference only, welcome to read!
Time of writing: 19:42, February 24th, Beijing time
Market Information
- The net inflow of funds for the US spot Bitcoin ETF on February 24th exceeded 232.3 million US dollars.
- Huobi HK's application for a virtual asset trading platform license submitted to the Hong Kong Securities and Futures Commission was withdrawn on February 23rd.
- A Republican congressman stated that the government's investigation into Bitcoin miners is an "abuse of power."
- Grayscale CEO: Open to merger opportunities.
- Coinbase: 21% of adults in Texas, USA own digital assets.
Market Review
The recent market has been fluctuating, without breaking through any significant levels. As mentioned earlier, Bitcoin was expected to rebound to around 52,300 before starting to decline again. Bitcoin did rebound slightly before beginning to fall again, with the lowest point reaching 50,518, but not breaking below 50,520. The range-bound fluctuation between 53,090 and 50,600 mentioned earlier remains unbroken. Additionally, due to the slow market movement over the weekend, there was a slight rebound during the day, and the weekend trading is expected to continue with a fluctuating trend.
Market Analysis
BTC:
Looking at the 4-hour chart, Bitcoin remains in a range-bound fluctuation. Although the strength of the rebound is weakening and has not reached near 53,000 again, it has also not broken below the lower limit of the range. A slight rebound is expected during the day, and it is anticipated that Bitcoin will reach around 51,700 before declining again. This is about 550 points away from the current price. After reaching around 51,700, it can be shorted again, and the strategy of shorting high and longing low should be maintained. The range remains between 53,090 and 50,600. Due to the slow weekend market movement, traders should seize the opportunity to enter the market. For short-term trading, manage risks and take responsibility for gains and losses.
ETH:
Looking at the 4-hour chart, Ethereum is currently fluctuating at a high level, but the duration of the fluctuation is not as long as Bitcoin's. However, it is still necessary to pay attention to the breakout situation. If Ethereum breaks above the high point of 3,044, the market will move towards around 3,110. Conversely, if it rebounds and then starts to decline, breaking below yesterday's low of 2,906, Ethereum will also break the fluctuating trend and decline to the range of 2,850-3,790. Currently, the trend is fluctuating, and Ethereum is expected to rebound near 3,000 over the weekend. After reaching this point, it can be attempted to short, and exit if there is a breakout. Trade with a fluctuating mindset, and make new decisions based on the trend after a breakout. Seize the opportunity to enter the market. For short-term trading, manage risks and take responsibility for gains and losses.
In summary:
The trends of Bitcoin and Ethereum are relatively slow, and the trading strategy is to maintain a fluctuating mindset and wait for a breakout in the market.
The article is time-sensitive, be aware of the risks, and the above is for reference only!
Follow the public account "加密老赵" to explore the market together.
No one wants to lose money, but I have never seen a rich person who has never lost money. However, I often see poor people who are not willing to lose a penny. Most people manage finances to avoid losses, rather than to make profits. Everyone wants to go to heaven, but no one is willing to die.
Cognition is the height at which a person views the world, and perspective is the angle at which a person views the world. Standing on the first floor, one mostly sees garbage; standing on the tenth floor, one sees the distant scenery. Facing north, one can never speak of the south.
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。
