2.23 Market Analysis:
Bitcoin BTC Market Analysis: Due to news impact, Bitcoin experienced a sharp drop of 4000 points the night before yesterday. This wiped out the momentum of the bulls who had been rising for three consecutive days, and it is currently consolidating in a sideways movement attempting to break through, facing significant resistance.
Trading Advice: At the current price level, it is not advisable to open new positions; long positions can be attempted around 95700, with a stop loss at 94700. Once it breaks through, at least aim for 98000, taking partial profits around 98000.
Today's Recommendation: Today we still recommend TRB. We recommended TRB a few days ago, suggesting to enter long between 35-36. The sharp drop in Bitcoin the night before yesterday brought down most altcoins, creating a good entry opportunity. It has now reached 37.5, hold on to it! It’s important to emphasize three times that TRB has been lingering at the bottom for over 20 days. According to previous habits, it generally does not stay at the bottom for more than 18 days, and it could surge at any moment. It is not recommended to use leverage; if you must, do not exceed 2 times your total capital. A stop loss is also necessary, set it at 30. If the stop loss is triggered, you can continue to open the same position near the stop loss level. The next stop loss level is 26. If this stop loss is also triggered, then abandon it, with an overall loss of about one-third of your capital. Families, please assess your funds before proceeding. If it falls below 26, the overall market is likely to turn bearish, and long positions are not suitable to continue holding.
Diligence leads to expertise, while play leads to neglect; action is formed through thought and destroyed by carelessness. The author diligently researches cryptocurrency trading, supporting the trading system with theory. All analyses are shared for free, without exploiting anyone. All experts are welcome to exchange ideas and improve together. If you need assistance with your trades, please leave a message below; it’s free of charge. $BTC
