2.25 Bitcoin Analysis | Re-examining the Previous Low, Can Key Support Keep the Bulls Alive?

Hello everyone, I am Chen Yifan. If you enjoy this article, please follow me for more updates and our daily market analysis.

Bitcoin Market Analysis

On the daily chart, the previous candlestick closed as a solid bearish candle, and after the market opened today, it continued to test the lower band support. The Bollinger Bands have narrowed and are slightly opening again, the MACD fast and slow lines show signs of turning, and volume has decreased; the KDJ indicator is moving downward again, with key support near the 0 level, and the VR indicator is consolidating around the 50 mark.

On the 4-hour chart, the price is facing resistance at the 7-day moving average, with rebound strength clearly weakening, continuing to test downward. The Bollinger Bands are opening, with short-term moving averages diverging downward; the MACD fast and slow lines are extending downward, volume bars are increasing; the KDJ is also heading down, watch for support near the 0 level, and the VR indicator is oscillating around 100.

Overall, the trend remains weak, with limited rebound strength, and short-term support is crucial. If support is broken, the market is likely to make new lows.

Initially, focus on the support around 62,000, then look at the previous low area; once broken, it will accelerate the decline toward the 58,000–57,000 range.

Bitcoin Short-term Suggestions

Long positions at 62,500 / Long positions at 60,800
Once the strategy is activated, profit is up to you.