Yueying: Bitcoin and Ethereum Market Analysis (February 28th) - Rebound Fails, Returns to Trading Range with Short-Term Suggestions Based on Current Price

On the daily chart, Bitcoin closed with a doji candlestick. Intraday opening failed to stabilize above the middle Bollinger Band, testing downwards. The Bollinger Bands are narrowing and flattening, with short-term moving averages hovering around the middle band. The MACD fast and slow lines are extending upwards, but the volume bars are decreasing. The KDJ indicator is turning downwards, and the VR indicator is consolidating around the 50 level. On the 4-hour chart, the price rebounded but was resisted near the upper Bollinger Band, resulting in consolidation before testing the middle Bollinger Band. The Bollinger Bands show signs of narrowing, and short-term moving averages are turning downwards. The MACD fast and slow lines are turning downwards, with the volume bars continuing to decrease. The KDJ is trending downwards; watch for support near the 0 level. The VR indicator is consolidating around the 130 level. Overall, the price failed to break through the upper resistance and continued to test downwards, currently still within a range. Therefore, the short-term view remains unchanged: continue treating it as a range-bound market. Support is seen around 65000; if this level breaks, exit long positions at the current price and look for support above the previous low. Resistance is seen around 68000. This is a short-term trading suggestion. Bitcoin Short-Term Trading Suggestions: Buy at the current price of 65800 (or buy at 63500), sell at 67800 (take profits if the strategy is activated). Regarding Ethereum, the previous long position at 1980 saw a rebound from 1975 to around 2060, only moving about 80 dollars, a good entry point but not a large move. Overall, the technical indicators are linked to Bitcoin, and the short-term trading strategy is the same: first watch the support around 1900; if it breaks, watch the support around 1800. On the upside, watch the short-term resistance around 2080. See short-term suggestions. Ethereum Short-Term Trading Suggestions: Buy at the current price of 1950 (or buy at 1848), sell at 2040 (click the image to see the homepage introduction for more coin 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!