February 19 BTC/ETH Míshén Strategy

After reviewing the recent news, Míshén just wants to say "Peace on Earth." The US-Iran talks are below expectations, the Russia-Ukraine negotiations are below expectations, and geopolitical turmoil is affecting the global markets. These are things beyond our control; we can only patiently wait for technical signals, lower our expectations, and do some reduction. Or enjoy this wonderful holiday, wait for the right opportunity, as the saying goes "A good hunter must be patient."
Bitcoin: The weak correction trend is very obvious. On a larger scale: the good expectation is that it can form a double bottom pattern above 625 on the daily chart. The bad expectation is that it will fall back into the downtrend channel that started in January, continuing a long bottoming process. On a smaller scale: 69,000-71,400 has been confirmed as a near-term strong resistance zone. The support at 67,150 is weakening (frequently hitting this level but failing to recover upward). Watch the support levels at 63,900-65,300 below. In case of an overshoot, Míshén personally hopes that the 62,500-63,900 area will not be broken, otherwise Bitcoin will return to the downtrend channel, breaking the 60,000 mark, and possibly trigger a new panic sell-off.
Ethereum: In terms of technical patterns, ETH has done its best. It has successfully held the 1-hour level three times in the 1940-1965 range. But even the strongest support cannot withstand such repeated testing, especially since each support attempt failed to repair any critical levels. The potential support zones below are 1872-1912 (Zone 1) and 1796-1872 (Zone 2). Look for buying opportunities at these two zones during the night session. The near-term strong resistance is confirmed at 2000-2015, as clearly stated in previous posts.
Today, during the "Míshén Club" discussion, we also joked that the current position is both easy and difficult to trade. Easy because you can just use some level charts to do swing trading and make profits; difficult because if you have expectations of a breakout, you will be repeatedly educated. Maybe Míshén himself is a bit impatient, eager for a direction. But today I reflected on it and still believe in the wise saying "Fast is slow." Slow down, wait for results. If there is a swing opportunity, try it; if not, find a position with good value. Wishing everyone successful investing. #Gate广场发帖领五万美金红包 $BTC