Monday🗓️ "February 9th"

Currently, Bitcoin (BTC) and Ethereum (ETH) are in the "violent rebound after a sharp decline" stage.

After experiencing a panic sell-off that hit a 16-month low on February 6th, the market is now attempting a corrective rebound. The market is likely entering a consolidation correction or a secondary bottoming phase due to insufficient rebound volume (no-volume rebound) and heavy trapped positions above. It is difficult for prices to break through strong resistance levels directly.

Technical Analysis:
Bitcoin (BTC): Currently under pressure below the middle band of the Bollinger Bands, indicating a rebound resistance state. The candlestick shows a rally followed by a retreat, with heavy selling pressure above. After touching $72,300, it failed to stabilize, with multiple consecutive bearish candles with lower shadows, indicating support below but still strong bearish momentum. The Bollinger Bands are widening, suggesting short-term downward momentum is strong. No clear signs of stabilization yet. Short-term, it may continue to fluctuate in the 68,000–71,000 range, with key resistance zones at 69,800–70,200–71,500.
$BTC
Bitcoin (BTC): 69,500–69,800 short, target 68,500–67,500; if broken, watch 67,000–66,000.

Ethereum (ETH): Also under pressure below the middle Bollinger Band, with weaker rebound momentum than Bitcoin. The price has touched the lower Bollinger Band with a large divergence, often indicating a short-term technical correction (oversold rebound). Resistance is strong around $2,150, and the moving average system shows a bearish arrangement that has not fully reversed. The short-term trend is weaker than BTC, likely consolidating in the 2,000–2,100 range, with key resistance at 2,080–2,120–2,150.
$ETH
Ethereum ETH: 2,080–2,100 short, target 2,000–1,980; if broken, watch 1,900–1,850.

📵‼️
Although the market panic index has rebounded from the bottom, it remains in a highly cautious state. The bulls and bears are fiercely contesting. Trading strategy should mainly involve shorting on rallies, with light positions to catch rebounds. If BTC or ETH breaks through key resistance/support levels with volume, strategies should be adjusted promptly. Specific market points will be based on real-time alerts from Ziqing.
#当前行情抄底还是观望？