Yueying: Bitcoin and Ethereum Market Analysis - February 9th: Rebound as Expected, Next Resistance at 74000

Looking at the daily chart for Bitcoin, after a rebound following a decline, the previous candlestick closed bearish, indicating a period of adjustment. Intraday opening saw an upward test of the 7-day moving average. The Bollinger Bands show signs of narrowing, and short-term moving averages are currently trending downwards. The MACD fast and slow lines are extending downwards but showing signs of turning upwards, with decreasing volume. The KDJ indicator is crossing upwards, and the VR indicator is consolidating around the 60 level. On the 4-hour chart, the price continues its rebound, breaking through the middle Bollinger Band and moving towards the upper band. The Bollinger Bands are narrowing and flattening, and short-term moving averages are turning upwards. The MACD fast and slow lines are crossing upwards, with increasing volume. The KDJ indicator is also turning upwards again, and the VR indicator is consolidating around the 60 level. Overall, the price movement is in line with the expectations outlined above. After a period of accelerated bottoming, a decent rebound has occurred, and the previous analysis emphasized a bullish short-term outlook. The short-term trend is a correction after continuous bottoming; a true reversal still needs observation. The larger-cycle trend remains bearish, so further waiting for a breakout of resistance is necessary. Short-term trading should be treated as range-bound. Watch for resistance around 74000 and support around 69000. See the short-term recommendations below. Bitcoin short-term trading suggestions: Short at 73400, Long at 69700 (Take profits as needed after strategy activation). Ethereum technical analysis is correlated with Bitcoin and can be used for reference only. Internal short-term long positions at 1923, 2000, and 2077 have all been closed. Short-term resistance is around 2250, and support is around 2040. See short-term suggestions. Ethereum short-term trading suggestions: Short at 2230, Long at 2080 (Click the image to see the homepage introduction for more cryptocurrency analysis). —I am Zhou Yueying, a teacher specializing in technical analysis. If you have any questions about trading or trends, feel free to discuss and learn with me! Let's exchange ideas and profit together!