"Market Analysis Simplified for February 11: Waiting for Shorting Opportunities!"

The recent market has been quite sideways. The position at 69,800 USDT for Bitcoin, which I previously highlighted, is a key support and resistance flip zone. Yesterday, I took a short here. Early this morning, the price was again rejected and pulled back from this level, so it remains a critical point to watch. During the holiday season, the daily chart is expected to continue oscillating around 62, 64-74, and 75, serving as a correction phase. If there is a rebound to the daily MA50, it would be an excellent shorting opportunity because the weekly cycle has shifted. Once the daily oscillation completes, a new downward trend to new lows could begin. Therefore, waiting for shorting setups at higher levels will be the main theme moving forward.

$BTC Support for Bitcoin is at 64,400 and 62,500. Resistance remains at 74,600 and 75,600. The levels have been consistent these days; in the short term, we are using 69,800 as the dividing line for short trades.

$SOL The support and resistance levels here are the same as a few days ago: support at 75.3 and 71, resistance at 98.5.

$ETH Ethereum's support is at 1,895 and 1,825, with resistance at 2,375. The 2,375 level is a good point to wait for shorting opportunities.

In summary, considering the weekly trend, the large cycle has already shifted, indicating that a bear market has begun. Therefore, on the daily chart, we remain bearish, and any rebound is a potential shorting opportunity. Around the holiday period, look for a rebound to 74-76 to initiate shorts. Exact entry points will depend on how the market develops, so stay attentive. If you're unsure about the market direction or find it hard to grasp the trend, you're welcome to join the Chief Analyst group. Click to join the Chief Analyst community (Follow the Chief for daily market analysis and precise entry points. Long and short ideas are for reference only. Strict stop-loss and take-profit are recommended).