Wednesday, 2.18 Midday Market Analysis.

The decline continues, moving within a daily range. Today is the second day of the Lunar New Year. The daily chart closed with a medium-length bearish candle, digesting the previous day's doji with slightly increased volume. The MACD green histogram is still expanding, indicating bearish momentum. Although it looks bearish, this sign suggests only a rebound or a short-term correction. On the larger daily timeframe, we should not blindly chase long or short positions. It's important to clarify the upper and lower bounds of the range: the upper boundary is at 71,000, and the lower at 65,000. For Ethereum, the upper boundary is at 2,100, and the lower at 1,900. Approaching the upper boundary may trigger resistance and a pullback; nearing the lower boundary suggests a potential rebound. Of course, the main strategy remains to sell high and buy low, aligning with the larger timeframe trend.
BTC Trading Suggestions: Short near 68,200, add positions around 69,000-69,500, take profit at 67,000-65,800, stop loss at 70,000.
ETH Trading Suggestions: Short near 2,020, add positions above 2,050, take profit at 1,970-1,920, stop loss at 2,100.