2.26 Morning Analysis

Recently, the overall market remains dominated by a bearish trend. In the early hours, the bears briefly paused, and the bulls launched a quick counterattack. The price surged to the 70,000 level before facing resistance and pulling back. This rapid rally was quite abrupt. Currently, Bitcoin is consolidating around 68,300.

On the 4-hour chart, indicators show a golden cross, with both lines diverging upward. The MACD red histogram is gradually increasing, indicating a temporary rebound in bullish momentum. However, the candlestick pattern shows a V-shaped rebound. Although it broke through the upper band resistance, the rebound strength has not continued. The medium-term downtrend remains unchanged; this short-term rise is merely a technical correction, not a trend reversal.

The 70,000 level faces strong resistance, and the upward space is limited. It is not advisable to blindly chase longs at high levels. Be cautious of the risk of a quick pullback after a rise.

Trading Suggestions

Bitcoin 68,500-68,800 range: short in batches, target 65,000-64,000
Ethereum 2,070-2,090 range: short in batches, target 1,900-1,950