Feige's words on February 13
Preface:
1. SEC Commissioner Hester Peirce: Meme coins may not be regulated by the SEC;
2. Federal Reserve Chairman Powell stated that we do not want to hinder banks from providing services to legitimate clients using cryptocurrencies;
3. Federal Reserve Chairman Powell stated that he would not resign even if President Trump requested it;
4. The U.S. January CPI increased by 3% year-on-year, higher than market expectations;
Technical analysis:
BTC: Yesterday, the consumer price index (CPI) data increased by 3% year-on-year, higher than the expected value of 2.9%, which is positive for the dollar. The dollar index briefly rose sharply, while Bitcoin quickly fell by over 2000 points. The increase in CPI data aligns with the Fed's decision not to cut rates in March. The overall trend on the daily and weekly charts is leaning towards bearish. On the daily level, the upper 106000 line can be seen as a high point, with the second stage high concentrated around the 100000 line, followed by a decline to around 96000 points. The current rebound target can be set at 100000-101000 points. On the 4-hour chart, after a dip to 94000 points last night, it rebounded quickly, forming a long upper shadow bearish candle. The 4-hour chart has opened a rebound rhythm, and the market is starting to turn upwards. For intra-day operations, focus on support at 96800-58000 points for rebounds and resistance at 99300-100300 points.
ETH: Oversold Ethereum has recently formed a phase of low support around the 2600 point line. After a dip last night, it began to rebound. From a larger trend perspective, the overall movement is mainly bearish, and the short-term market awaits a rebound. Between 9 PM and after 11 PM, after multiple dips, it began to show a rebound, clearly stronger than Bitcoin. On the daily level, yesterday closed with a large bullish candle, breaking through recent resistance, and the K-line arrangement has begun to turn upwards. In the short term, the rebound target can be seen at the 3050 line, with significant selling pressure above 3050. On the 4-hour chart, the trend is clearly in an upward rhythm, with a golden cross forming at the lower moving averages. For intra-day operations, focus on support at 2700-2660 for rebounds and resistance at 2850-2900.
Altcoins: Driven by the rebound in Ethereum, altcoins are experiencing a collective rebound, with the meme series leading the charge. The new small animal tokens are showing even stronger trends, with Dog Sister (neiro) surging 20%. The previously highlighted Dogecoin and Shiba Inu are showing slightly weaker performance, but the trends are very stable, and they can be held for the time being. XRP ETF and some historical legacy issues have made corresponding progress again, and its technical performance has been in a phase of relative low volatility recently, with support forming at the 2.34 line, and a rebound is expected in the short term.
Ethereum and HeYue: Currently holding the 54th long position, with some positions taken for profit this morning! The completed record so far is 50 wins and 3 losses.
The day before yesterday, spot trading and the HeYue skirt were both utilized to lay out Dogecoin, which is currently showing a small profit and is being held!
#BNBChainMeme热潮 #加密市场反弹 #山寨季何时到来？ #你看好哪一个山寨币ETF将通过？ #币安上线LAYER
The cryptocurrency market is highly volatile; exercise caution when entering. This is a personal opinion, not advice, for sharing purposes only.
