Crypto Circle Mr. Coin: Bitcoin (BTC)) Market Analysis

On February 24, Bitcoin (BTC#特朗普宣布新关税政策 ) initially moved as expected with a pullback. During the day, the price retreated below the short-term support at 66,000, prompting another downward move. Fortunately, it did not break below the 64,000 level and is currently trading around 65,300.

In the short-term hourly chart, the price retraced and experienced a slight rebound. However, the upward momentum remains strong, and the resistance above is gradually shifting downward. If the price cannot stabilize and break through the 66,000-67,000 resistance zone, there is a possibility of further decline.

On the daily chart, after a series of consecutive bearish candles, on February 23, the long lower shadow tested the 64,290 support level and rebounded, indicating some short-term selling pressure has been alleviated. The weekly chart shows a double top pattern (79,200/71,400). The current price has broken below the neckline at 68,000, with a measured target pointing toward the 60,000 region.

Regarding MACD, the fast and slow lines on the daily chart have diverged after a death cross below the zero line, but the histogram has started to contract, indicating weakening short-term bearish momentum. The weekly MACD death cross at high levels confirms a medium-term correction trend.

Moving averages show that the price is being suppressed by EMA7 (67,278) and EMA30 (72,960). The intraday trend is relatively weak. Therefore, our short-term strategy remains focused on rebound short positions. Resistance levels are at 67,500-68,500. If broken downward, watch for support at 64,000.

Bitcoin (BTC$BTC ) Short-term reference:
- Short position in the 67,500-68,500 range, with a stop loss at 70,500, and a 500-point stop.
- Target below 66,500.
- Long position in the 63,500-64,500 range, with a target above 75,500, and a 500-point stop.