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Friday evening market analysis for 2.27
The rally during the daytime high hasn't broken through yet, and now it has returned to the bottom. The current structure is still in a consolidation phase. In recent days, our trading has been based on the high and low points of the range, easily capturing a 2000-point move each day. With interest rate cuts approaching, we should pay close attention to potential breakouts of the range.
Mu Feng believes that this wave of volatility may last for about a week. In our trading, we should focus on the high and low points of the range, going long near support and short near resistance.
Bitcoin: Resistance at 68,600, support at 65,500. Once the price reaches these levels, you can consider shorting at resistance and going long at support!
Ethereum: Support at 1,960, resistance at 2,130. Trade accordingly.
Crypto Seas, endless learning. Wishing everyone successful trading.
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