Analyst Chen Shu: How to trade during the one-sided decline of Bitcoin and Ethereum on February 24th, and pay attention to the strength of the rebound.

Analyst Chen Shu: How to trade in the one-sided decline of Bitcoin and Ethereum on February 24th? Pay attention to the strength of the rebound. Looking at the daily chart for Bitcoin, yesterday and today saw two consecutive bearish candles, indicating the price hasn't stopped falling. Short-term resistance remains at the 5/10-day moving average (MA5/MA10) around 6.6/6.7. The larger support level is the 256-day moving average (MA25) around 5.5 on the weekly chart. On the 4-hour chart, the short-term rebound is weak and hasn't tested the 10-day moving average. On the 1-hour chart, watch whether it can rebound and break through, holding above 6.4. The recommended strategy is to treat it as a weak, range-bound market. Looking at the daily chart for Ethereum, yesterday's small bearish candle was consistently suppressed by the MA5/MA10. The support level to watch is the previous low of 1730. If it falls further today, first observe whether it finds support at this level. On the 4-hour chart, watch the dense resistance zone around 1900/2000. First, observe the direction of the breakout from this range. Midday Trading Strategy (Written at 13:50): BTC: Short at 6.4, add to short position on rebound to 6.5, target 6.3/6.2; consider a short-term long position at 6.2/6.1 with a target of 2000 points. ETH: Short at 1860, add to short position on rebound to 1930, target 1800/1750; consider a long position at 1750/1700 with a target of 100 points. Daily analysis strategies have a very high win rate! Analysis is not easy, so please give a free follow, save, like, and comment. Thank you everyone. Welcome to leave comments below for discussion, I will reply to each one.