Crypto News
February 24th Hot Topics:
- FTX reaches a $33 million settlement over failed European expansion
- Grayscale CEO: Open to merger opportunities
- Binance's $4.3 billion fine plea agreement approved by US judge
- EOS CEO proposes a new token economic model to curb inflation by limiting supply and gradually reducing issuance
- 8 ETFs added 5,781 BTC on February 23rd, worth nearly $300 million
Trading Insights
As a cryptocurrency investor, in order to survive in the market, one must be prepared for all possibilities. For example, if you strongly believe in a bullish trend, you must be prepared for the possibility of a sudden market downturn. Conversely, if you have strong doubts about the current uptrend, you cannot completely rule out the possibility of a year-end surge. Never forget, nothing is absolute, and the market is always right. Everyone makes mistakes. The real secret of successful people is not to avoid making mistakes but to avoid repeating them. Everyone has their own weaknesses, so it is necessary to continuously learn how to minimize them in investment trading. In actual investment, there is very limited learning from successful trades, while failed trades can teach a lot. For an investment novice, earning money too early may be the biggest tragedy, as it may lead to overconfidence and the belief that making profits in investment trading is easy, which is not the case. When judging market trends, one must invest time and effort to explore deeply. Once recognized, one must act, even though it may be accompanied by fear and suspicion. Stick to the decision without blindly changing it due to external factors. Successful traders undoubtedly have a strong inner self.
Search for the public account: "Big White on Coins"
BTC
Analysis
Bitcoin showed an overall oscillating downward trend yesterday. In the early session, it reached a high near 52,020 and then fell back, dropping to support around 50,530 before rebounding. Congratulations to friends who followed the previous strategy and profited from both long and short positions, gaining 2,000 points. Currently, the coin price is running near 50,660. The 4-hour candlestick chart shows a continuous decline along MA7, with some rebounds but not significant strength. After oscillating, it chose to fall again, effectively breaking through 51,000 and currently reaching MA90 support. The MACD is running bearish with a dead cross of the two lines extending downward, indicating a potential further decline in the trend. On the daily chart, a short-term top is emerging with a pullback, and the MACD has turned bearish with a high-level dead cross. If MA7 turns down and crosses below the 14-day moving average, it will inevitably trigger another price drop. Intraday, pay attention to the 50,000 support level. If it breaks, consider buying in batches in the 49,000-48,500 range. Intraday strategy suggests treating high positions with caution and low positions with optimism, with resistance at 51,380-52,000 and support at 50,000-49,500.
ETH
Analysis
Ethereum encountered resistance near 3,030 multiple times and showed an overall oscillating downward trend yesterday. It dropped to support around 2,906 and rebounded. Congratulations to friends who followed the previous strategy. Currently, the coin price is running near 2,920. The 4-hour chart formed a short-term bearish divergence structure with a pullback. The repeated tests around 2,900 without breaking through indicate strong support. The MACD is running bearish with a dead cross of the two lines, and MA7 is turning downward. If 2,900 is broken, there is a possibility of a drop to 2,870, so buying at 2,900 carries significant risk and can be abandoned. On the daily chart, a three-candlestick pattern shows a clear pullback trend, with attention to the MA14 support situation. If it holds, consider entering long positions. Intraday strategy suggests treating high positions with caution and low positions with optimism, with resistance at 2,950-2,980 and support at 2,870-2,820.
Disclaimer: The above content is purely personal opinion and is for reference only. It does not constitute specific operational advice and does not bear legal responsibility. Market conditions change rapidly, and the article has a certain lag. If there are any areas that are not understood, feel free to consult.
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