Daily Market Interpretation - BTC 02/28
BTC has experienced six consecutive daily declines, and the main drop has been released, so continuing to be bearish is unwise. The smaller timeframe has not yet bottomed, and we need to observe for another 1-2 days.
Short-Term Trend
• Rebound Expectation: After the price entered the second support level without breaking through, a rebound occurred instead. There is a significant negative divergence on the 4-hour and 12-hour levels, indicating an upward expectation.
• 1 Hour and Below: After continuous declines, the bearish structure in the smaller timeframe is evident, but the current trend is stabilizing, allowing for short-term quick in-and-out operations.
Key Levels
• Aggressive Entry Range: 80300-79794
Stop Loss: 79500 (1-hour candlestick body)
Take Profit Reference: 81520/82777
• Short-Term Support: 78555-77910 (quick in-and-out)
• Medium-Short Term Resistance: 83514-85315
Medium-Term Operation:
• Wait for a bullish structure to appear in the 1 hour and below levels, and combine with the "Lifeline Strategy Ma30 Moving Average" for operations.
Macro Outlook
• 1-2 Weeks: The price is highly likely to return above 81,000.
• 2-4 Weeks: The price may rebound to the 88,900-92,000 range.
• Main Force Direction: Even if the main force wants to offload, it needs to complete it through upward fluctuations, and future attention should be on rebound opportunities.
Remarks
• Current range opportunities are limited, and operations should focus on quick in-and-out.
• A bullish structure needs to form in the 1 hour and below levels before a daily rebound can occur.
BTC has experienced six consecutive daily declines, and the main drop has been released, so continuing to be bearish is unwise. The smaller timeframe has not yet bottomed, and we need to observe for another 1-2 days.
Short-Term Trend
• Rebound Expectation: After the price entered the second support level without breaking through, a rebound occurred instead. There is a significant negative divergence on the 4-hour and 12-hour levels, indicating an upward expectation.
• 1 Hour and Below: After continuous declines, the bearish structure in the smaller timeframe is evident, but the current trend is stabilizing, allowing for short-term quick in-and-out operations.
Key Levels
• Aggressive Entry Range: 80300-79794
Stop Loss: 79500 (1-hour candlestick body)
Take Profit Reference: 81520/82777
• Short-Term Support: 78555-77910 (quick in-and-out)
• Medium-Short Term Resistance: 83514-85315
Medium-Term Operation:
• Wait for a bullish structure to appear in the 1 hour and below levels, and combine with the "Lifeline Strategy Ma30 Moving Average" for operations.
Macro Outlook
• 1-2 Weeks: The price is highly likely to return above 81,000.
• 2-4 Weeks: The price may rebound to the 88,900-92,000 range.
• Main Force Direction: Even if the main force wants to offload, it needs to complete it through upward fluctuations, and future attention should be on rebound opportunities.
Remarks
• Current range opportunities are limited, and operations should focus on quick in-and-out.
• A bullish structure needs to form in the 1 hour and below levels before a daily rebound can occur.