2.24 Midday Market Analysis

The Bitcoin 4-hour chart shows a clear downward structure, with the price moving within a descending trend channel. The candlestick patterns are consecutively bearish, indicating a strong bearish trend.
On February 23, a large bearish candle appeared with increased volume, confirming the dominance of the bearish pattern. Short-term selling pressure was released in full, with seller momentum holding absolute dominance. The current price has broken below the recent 4-hour candlestick support level, further confirming the weak structure. The rebound strength is limited, and no effective stabilization signals have appeared.
In terms of technical indicators, the MACD dual lines (DIF, DEA) are operating below the zero axis in the bearish zone and continue to diverge downward, indicating an ongoing bearish trend. The MACD green bars are continuously enlarging, and the negative zone is expanding, reflecting that bearish momentum is strengthening and the downtrend is accelerating. There are no obvious bottom divergence or turning signals at this time, so the short-term trend remains predominantly bearish.
BTC Trading Suggestions: Long positions around 63,000, add on dips near 62,000, take profit at 64,500-65,500, stop loss below 61,500.
ETH Trading Suggestions: Long positions between 1,780-1,820, add on dips near 1,750, take profit at 1,850-1,890, stop loss below 1,700.
Rebound to take profit levels can be considered for short-term swing trading.