Weekend Bitcoin and Ethereum Latest Thoughts for 2.28: Is It a Period of Consolidation?

After surging to around 70,000 for Bitcoin and 2,150 for Ethereum, both assets experienced a clear correction, with prices temporarily dropping to around 63,000 and 1,840. Although the decline was significant, the prices did not break below the previous range’s lower boundary, and overall, the market remains in a wide-range consolidation pattern.

From the monthly chart perspective, both have closed with consecutive bearish candles for nearly half a year, showing a notable decline. However, this month’s monthly candle is expected to form a long lower shadow, which could signal a stabilization of the market sentiment.

At the four-hour and daily chart levels, there is still some room for downward correction, but as long as the range structure is not broken, the possibility of a rebound remains. If key support levels are broken, the trend could turn negative. The weekend market shows a pattern of oscillating downward, so attention should be paid to the strength of the recovery. After this wave of decline, once the range is broken, the weekend will enter a consolidation phase!

Bitcoin consolidation range: 62,500-64,500;
Ethereum consolidation range: 1,820-1,880.

Personal opinion, for reference only, not investment advice!#深度创作营