Thoughts on the morning of February 20:

From the perspective of technical structure, from the perspective of daily level, the price has dropped sharply, and the bottom support has been tested in the form of a pin. Fortunately, the short force failed to break through this key support level, and then the bulls quickly exerted their strength to regain the lost ground, and the price rebounded. In this process, the bulls were strong, driving the moving averages of various indicators to turn around, and the trading volume increased significantly. From the perspective of volume changes, the shorts are in a continuous shrinking trend, which indicates that the long and short forces are at a critical node of conversion, and the long-short conversion is about to be completed. Based on this, in terms of the rhythm of the subsequent market, we are optimistic about the further efforts of the bulls, and the subsequent market will most likely be dominated by the bulls.

Switching to the small cycle level analysis, the overall price is in a trend of shock repair and rising. However, due to the limitation of the price channel, there has been no significant breakthrough. But it is worth noting that various indicators have always maintained a bullish and large-volume state, which means that the bullish sentiment has the upper hand in the small cycle. In addition, in the short-term level, the price has maintained a fluctuating upward trend, and the space formed by the short-term callback is relatively limited. Based on the above situation, for the operation ideas in the early trading, it is recommended that investors start with the callback low-long strategy.

Bitcoin is more around 95000-95500, and the target is around 97500-98000

Ether is more around 2675-2700, and the target is around 2775-2800

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