2.10 Tuesday Midday Market Analysis

Although Bitcoin has recently experienced an oversold rebound, from a technical perspective, it still remains within a downward channel for technical correction and does not indicate a trend reversal. The current bullish momentum mainly comes from partial short covering, with insufficient rebound volume and limited new capital entering the market. Institutional funds have not formed a systematic return, and overall buying pressure remains weak.
Technically, the price has consistently stayed below key moving averages, with short-term moving averages in a bearish alignment, continuously suppressing the price; the daily downward channel remains intact, with highs gradually shifting lower and lows repeatedly breaking support levels. The downward structure has not been broken; indicators like MACD show slight recovery but still remain in a bearish zone, with no clear strong reversal signals. The options market remains dominated by bearish sentiment, further limiting the rebound potential.
Overall, the current rebound is limited in strength and duration, and the overall outlook remains bearish. It is recommended to deploy in stages around strong resistance areas.
BTC Trading Suggestion: Short near 70500, take profit around 69800-68500. Stop loss at 1500.
ETH Trading Suggestion: Short near 2100, take profit at 2000-2050, stop loss at 2140.