2.28 Afternoon Bitcoin Market Analysis!

Good afternoon, brothers. This market really doesn't rebound when it drops. Today it broke 80,000—can you believe it? Those who were singing bullish at the beginning of the month must be feeling quite uncomfortable now. Some may have already been liquidated, and others might also be facing liquidation with just a little drop. It's still the same saying: trends cannot be countered, brothers. Trends cannot be countered. Once the downward trend forms in the latter part of a bull market, it won't give you a chance to recover; it will just clean your positions. Once the bulls have been cleaned up enough and everyone is turning around to chase shorts, the market will start to rebound and rise again, harvesting back and forth.

Returning to the chart, Bitcoin has now broken 80,000. The probability of testing the strong monthly support at 76,300 is very high. The bulls have been mostly cleaned out. If we dip again, the market will have a rebound. Long positions can still be attempted around 76,300. Tomorrow, with the monthly change, as long as this level does not break down, the market is not entirely bearish yet. There will still be a significant rebound, likely around 90,000. Currently, there isn't much of a rebound. The upper resistance first looks at breaking through 81,500, and then 82,500-84,300. At least we need a four-hour closing above 84,300 for the rebound to have strength. If it doesn't rebound, just wait around 76,300.

The last line of defense is 2,100. If it drops below, it will have to test the supports at 2,000-1,800. Currently, the rebound is also very weak. The rebound pressure first looks at breaking through 2,230; if this pressure cannot be broken, the rebound will be weak. Long positions should wait directly in the 2,200-1,800 range.