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2.8 Latest Bitcoin and Altcoin Strategies
The enjoyable weekend has come to an end, and this cycle of market flipping plans officially begins. The opportunity to flip the market is here. Finish the five-day workweek and celebrate the New Year!
Recently, market volatility has intensified. On February 6, both Bitcoin and altcoins showed long lower shadows followed by quick rebounds, indicating strong buying support at key price levels. Currently, the market is in a phase of alternating small bullish and bearish movements, with technical indicators showing a tug-of-war between bulls and bears.
In the MACD indicator, the DIF and DEA are still in the negative zone but are gradually converging, and the momentum histogram has shifted from green to red, indicating that bearish momentum is waning. Technically, the market is in a weak recovery phase after a deep correction. The 4-hour chart shows that the stepped-down downward pattern remains unchanged, with resistance levels moving lower simultaneously. The 1-hour moving averages continue to be in a bearish alignment.
Bitcoin is short at 70,800-71,800, →67,000-68,000;
Altcoins are short at 2,120-2,160, →2,030-1,950.
Personal opinion, for reference only, not investment advice!