Yue Ying: Bitcoin and Ethereum Market Analysis for 2.24 - Is There Still a New Low in a Weak Market? Plus Short-term Tips

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Bitcoin Technical Analysis ————

On the daily chart, after a narrow range of fluctuations, the market opened lower and tested support near the lower band, rebounding from there. The Bollinger Bands are narrowing, with the short-term moving average running around the middle band, forming short-term resistance. The MACD fast and slow lines crossed upward, with decreasing volume bars. The KDJ has turned downward after a rebound and is again facing resistance. The VR indicator is consolidating around the 50 level.

On the 4-hour chart, this morning’s candlestick was a bearish engulfing that broke the small range’s lower boundary, then rebounded but was blocked near the 7-day moving average. The Bollinger Bands are slightly opening, with the short-term moving average turning downward. The MACD fast and slow lines crossed downward, breaking below the zero line, with decreasing volume bars. The KDJ is supported around the 0 level and has turned upward. The VR indicator is consolidating near the 130 level.

Overall, the market continues to be weak, with no positive macro news. Funds in the market are watching or even fleeing, let alone new outside capital. Therefore, the probability of further short-term decline remains high. In the short term, watch for support near the previous low. If broken, focus on the support around 62000. Resistance above is near 68000. Short-term trading suggestions.

Bitcoin Short-term Trading Tips: Short at 67300, Long at 65100 (Long at 62500) (Activate strategy if profitable and manage your own risk)

Auntie Tech Analysis ————

Auntie’s overall technical outlook is linked to Bitcoin’s reference; there’s nothing much to say. The current trend is hard to have an independent movement. In the short term, watch for resistance around 1980 and support around 1820. If broken, focus on the level above the 6th low point. Short-term trading suggestions.

Auntie Short-term Trading Tips: Short at 1950, Long at 1870 (Long at 1780) (Activate strategy if profitable and manage your own risk)

—— I am Zhou Yueying, a teacher focused on technical analysis. If anyone has questions about operations or trends, feel free to discuss and learn with me! Let’s share insights and profit together!