Bitcoin has recently seen little volatility, while Ethereum has started to weaken and plummet. SOL has been continuously benefiting and strengthening. Recently, I've been emphasizing that Bitcoin has not stabilized, so we cannot assume we have found the bottom; we should continue to wait for the bottom. I suggest taking small long positions without a grand view, and instead choosing to go with the trend for short positions, setting stop losses at each rebound high, with take profits at previous lows. ETH touched around 4672 and began to pull back; currently, the trends for BTC and Ethereum are basically in line with Sweet Dream's expectations.
BTC
The bearish structure of BTC has broken but the rebound has failed, and short-term support expectations are gradually weakening, continuing a trend of oscillating downwards. The next target is set at $111,000. If it falls further, yesterday's bullish candlestick will be completely engulfed, and the market will revert to bearish, with the daily support target set just above 100,000.
Currently, the BTC 3-day MACD is approaching the zero axis and is expected to break below 110,000 again, testing the 5-day EMA at 30:107285. The adjustments at the 1 and 2-day levels have ended, and there are already stop-loss signals at the lower Bollinger band, so a pullback to 108,500-107,285 remains a short-term bottom-buying range. It probably won't stabilize above 113,300 before the interest rate cut.
ETH
ETH has recently been in a sideways market, with the overall situation still reflecting panic over the dead cross on the BTC weekly chart. A doji candlestick was formed yesterday, with clear pressure above; the triangle's pressure and support can still be used during the day, and it’s advised to exit on a confirmed breakout.
The current price has not shown a clear bottom structure, so it is not safe to recklessly go long on the trend line. If it falls further, the first target can be set at $4314, which is the previous key neck line position, with the next important support at 4060. A larger rebound is expected around 4060.
In short, Sweet Dream believes that 4000 is a short-term bottom, and the spot market can be bought in batches to get ETH, just manage your position well.
Altcoin
Without a lover, you might not survive Valentine's Day, but you must get through this hurdle in the crypto space. As the saying goes, prices always drop during holidays, and there's nothing wrong with that. Ethereum has already fallen below 4400, and altcoins are about to plummet.
(1) PYTH
The US Department of Commerce has chosen PYTH for on-chain economic data verification and distribution, initially providing quarterly GDP data for the past five years, causing PYTH to surge by 1.2 times.
Last night during dinner, Golden suddenly broke news, and Sweet Dream entered the market immediately. At that moment, there was no time to notify everyone one by one. Sweet Dream wants to say that it's about the positive news; if you hesitate to chase high, you will miss out. If you don't dare to buy, the market makers are more likely to continue to push the price up, further opening up upward space.
(2) Block:
WLFI aims to create applications for USD1 in its ecosystem, which has a bunch of tokens, but only two tokens are the true offspring of the WLFI team.
①Dolo: Dolo made by WLFI CTO (doing DeFi, already on bn spot market),
②Block: Block made by WLFI CIO (doing launchpad). The founder of Block, Matt Morgan, is the investment head and lead advisor of WLFI, and he was also responsible for acquiring the US-listed company Alts.
Dolo surged after hitting the bn spot market, but it hasn't been listed on major exchanges yet, which is unreasonable for such projects. Currently, the WLFI ecosystem, including WLFI itself, is still in the early stages of business; much information has been bought up by insiders before it hits the public market, similar to the altcoins in the US stock market before. We can only trust in strategy and financial strength.
(3) Adderrels (Squirrel)
BRC2.0 has been in preparation for nearly two years, led by Domo for protocol upgrades. The long-term preparation has led to its current form, with investments from backers and infrastructure providers, as well as Squirrel starting to prepare this project at the end of last year. These forces are necessary for BRC2.0 to flourish, and as the leader, Squirrel has every reason to support Squirrel. It can even be said that any participant in the BRC2.0 market is a source of buying power for Squirrel.
This time for BRC2.0, more precisely Squirrel, has merged Eastern and Western powers, combined online and offline promotional forces, and gathered new and old players in the ecosystem. On the eve of an explosive growth in the Bitcoin ecosystem, there is a high chance of reuniting consensus and initiating a grand BTC DeFi Summer.
Tonight's market reversal
I expected there would be hedging against PCE in the afternoon, but I did not anticipate that Bitcoin's 'hedging' could directly drop below 112000; currently, the most favorable situation for the bulls is if tonight's PCE is positive enough to trigger a market rebound.
If the PCE is favorable and causes BTC to rebound, I expect altcoins to have a 5-10% rebound. If the PCE is unfavorable, Bitcoin might test the 105,000 range downwards before we see the reaction at that level.
Bottom-fishing after a big drop often presents a 10,000-fold opportunity for the next bull market. We enter the crypto space to seize trends; we are not here to earn a salary but to get rich. The current trend is right in front of you; if you don't seize it, and miss this wave, you might have to wait another 2 years!
