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#我在Gate广场过新年
Market Summary for Today--Is it a rebound or a reversal?
This morning, after a sharp decline, the market rebounded. Bitcoin rose from 64,250 to 66,150, nearly a 3% increase, and Ethereum also followed the rebound. So, is this a reversal? I don't think so; there is still room for the market to decline. Currently, it's just a rebound after being oversold.
1. From a technical indicator perspective
On the 4-hour chart, Bitcoin is constrained by short-term moving averages; on the daily chart, it has just broken down from a consolidation range. A retracement here is also normal.
2. From the news perspective
The situation between the US and Iran remains tense. On the 22nd, Russia's Sputnik News reported that US media, citing former CIA officials, said the US might launch a military strike against Iran on February 23 or 24. This news was also reposted by CCTV.com, indicating it's not unfounded.
On the other hand, Trump recently announced a new tariff policy, raising tariffs on imported US goods from 10% to 15%, risking a resurgence of trade tensions. Negative macro news will continue to exert downward pressure on the market.
Key levels to watch next:
Bitcoin resistance level: 66,600, support level: 64,250, strong support level: 59,900