Analyst Chen Shu: The Bitcoin and Ethereum fear indexes reached a low point on February 23. Where is the turning point for a market rebound?

Analyst Chen Shu: Bitcoin and Ethereum Fear & Volatility Index Reached Lows on February 23rd; Where is the Turning Point for a Market Rebound? Looking at the daily chart, Bitcoin has maintained a weak, oscillating trend for nearly half a month, with the price consistently suppressed by the 5-day and 10-day moving averages. If it can successfully break through and hold above these levels in the short term, the short-term downward trend may end, transitioning into a consolidation phase. On the 4-hour chart, with the 120-day moving average continuously declining, the upper resistance level is around 6.73-6.87. Short-term focus should be on whether this resistance level can be broken and held. Currently, the fear & volatility index is approaching a low; if this downward trend slows down, it may end, entering a phase of rebound and correction. From the daily chart, Ethereum also maintains a weak and volatile trend. The decline hasn't yet reached a new low. In the short term, focus on whether it can break and hold above the 5/10-day moving average (MA5/MA10), which corresponds to the 1950-2000 price range. On the 4-hour chart, watch the 2000 level; if it holds, the rebound trend is likely to continue. This level is also a key resistance level at the 1-hour MA256. The recommended strategy is to look for low points to consider establishing long positions. Midday Trading Strategy (Written at 19:30): BTC: Long at 6.6, add to long positions on a pullback to 6.5, target 6.8/6.9; consider short positions at 6.9/70,000 for short-term trading. ETH: Long at 1900, add to long positions on a pullback to 1850, target 2000; consider short positions at 2050/2100 for short-term trading. Daily analysis strategies have a very high win rate! Analysis is hard work, so I hope you can give me a free follow, save, like, and comment. Thank you! Feel free to leave a comment below and I will reply to each one.