Yueying: Bitcoin and Ethereum Market Analysis - February 4th - A Major Battle Between Bulls and Bears is Imminent

Bitcoin's daily chart shows a new low after the previous candlestick, followed by a slight rebound and consolidation at the open. The Bollinger Bands remain wide, short-term moving averages are trending downwards, the MACD fast and slow lines are extending downwards with decreasing volume, the KDJ is turning downwards again above 0, and the VR indicator is consolidating around 80. On the 4-hour chart, after a sharp drop below the lower Bollinger Band in the early morning, the price recovered but encountered resistance around the 7-day moving average. The Bollinger Bands are narrowing and flattening, short-term moving averages are trending downwards again, the MACD fast and slow lines turned upwards again with increasing volume, the KDJ is crossing downwards without extension and showing signs of flattening, and the VR indicator is consolidating around 60. Overall, the market remains weak, but the battle between bulls and bears is intense. It's currently in a key support zone, and a new low followed by a rapid recovery is possible. This zone also acts as a protective barrier for the bulls; a breach could trigger another panic sell-off. Short-term resistance is around 79000, and support is around 74000. Here are some short-term trading suggestions. Bitcoin: Short at 78500, Long at 74500 (Take profits as needed after strategy activation). Ethereum broke a new low, testing the 2100 area, and rebounded but was again blocked below 2380. The overall technical picture is similar to Bitcoin's and can be used as a reference. In the short term, focus on the upper and lower Bollinger Bands on the 4-hour chart for entry points. Don't be overly bullish or bearish for now, as this is a support area, and a correction is needed after the decline; a strong upward move is unlikely immediately. Just patiently wait for the bulls and bears to battle for a new direction. Ethereum: Short at 2412, Long at 2188 (Take profits as needed after strategy activation). —I am Zhou Yueying, a teacher specializing in technical analysis. If you have any questions about trading or trends, feel free to discuss and learn with me! Let's exchange ideas and profit together!