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#比特币反弹 Remaining resilient amidst the flames, Bitcoin breaking through 70K will trigger a March rebound, likely ending in early next month.
Bitcoin: Short-term resistance: 72,800, 74,000
Short-term support: 69,000, 68,000
(1) Fundamentals: The Middle East conflict is expected to persist for a long time, and cross-border bank transfers may be disrupted. Meanwhile, crypto-friendly regions like the UAE and Dubai in the Middle East could become alternative payment systems through Bitcoin, supporting a market expectation for a price rebound. ETF net inflows continued on Tuesday, totaling 225 million, providing momentum for the rebound. Breaking through 70K, Bitcoin will continue its rebound, with around 78K likely being the limit.
(2) Daily Chart: Bitcoin has been forming an A3-B3-C5 platform correction from its all-time high of 126,200. It is currently still in C5-3, and surpassing 72,300 will confirm entry into the C5-4 rebound wave.
(3) Moving Averages: MA7 (67,600) and MA14 (67,150) form a golden cross upward and have broken through MA30 (68,360), indicating a short-term rebound trend. As long as it does not fall below MA7, the rebound will continue.
(4) MACD: The daily chart's two lines are below the zero axis, indicating a bearish market. After forming a golden cross, the lines are trending upward and approaching the zero line, with selling momentum weakening.
(5) Pattern: The daily chart shows a descending channel, with a breakout above the midline at 67,800; a 4-hour chart shows a converging triangle, with a breakout above the upper band at 69,000, signaling a potential end to the decline and a rebound.
Key points: $70,000 is the average cost for February in the market, and it is the main level for whales to sell and for short-term trapped positions. It will be a critical point for trend reversal. Breaking this level will extend the rebound. Around 74,400 and 78K are technical resistance levels and the average cost for long-term holders of 1-2 years, likely difficult to break through. These are also zones to consider opening short positions without hesitation.
This is not investment advice; please trade cautiously!
Bitcoin: Short-term resistance: 72,800, 74,000
Short-term support: 69,000, 68,000
(1) Fundamentals: The Middle East conflict is expected to persist for a long time, and cross-border bank transfers may be disrupted. Meanwhile, crypto-friendly regions like the UAE and Dubai in the Middle East could become alternative payment systems through Bitcoin, supporting a market expectation for a price rebound. ETF net inflows continued on Tuesday, totaling 225 million, providing momentum for the rebound. Breaking through 70K, Bitcoin will continue its rebound, with around 78K likely being the limit.
(2) Daily Chart: Bitcoin has been forming an A3-B3-C5 platform correction from its all-time high of 126,200. It is currently still in C5-3, and surpassing 72,300 will confirm entry into the C5-4 rebound wave.
(3) Moving Averages: MA7 (67,600) and MA14 (67,150) form a golden cross upward and have broken through MA30 (68,360), indicating a short-term rebound trend. As long as it does not fall below MA7, the rebound will continue.
(4) MACD: The daily chart's two lines are below the zero axis, indicating a bearish market. After forming a golden cross, the lines are trending upward and approaching the zero line, with selling momentum weakening.
(5) Pattern: The daily chart shows a descending channel, with a breakout above the midline at 67,800; a 4-hour chart shows a converging triangle, with a breakout above the upper band at 69,000, signaling a potential end to the decline and a rebound.
Key points: $70,000 is the average cost for February in the market, and it is the main level for whales to sell and for short-term trapped positions. It will be a critical point for trend reversal. Breaking this level will extend the rebound. Around 74,400 and 78K are technical resistance levels and the average cost for long-term holders of 1-2 years, likely difficult to break through. These are also zones to consider opening short positions without hesitation.
This is not investment advice; please trade cautiously!
