February 17th Midday Commentary
1. Bitcoin, expected range 95000-97500,
expected trend is a decline followed by a rebound;
2. Altcoin, expected range 2600-2720,
expected trend is a decline followed by a rebound;
3. Around 23:00 tonight, Federal Reserve Governor Bowman will speak (expected to have little impact).
Tonight the U.S. stock market is closed for Presidents' Day.
In the latter half of last week,
after Fed Chairman Powell's bearish remarks were fully released,
the market experienced a rebound, following the
pattern of "bad news fully released is good news";
therefore, this does not indicate a major trend turning bullish,
but rather just a wave of rebound nature, which should not be overestimated.
Given that there is no important news driving the market today and the U.S. stock market is closed,
it is expected that the market will engage in stockpiling competition, leading to a volatile seesaw trend.
With the weak decline on Sunday, it is expected that today will continue the weakness from yesterday,
initially trending downward, and later in the evening, after reaching lower price levels,
it should see a rebound due to the intervention of bargain hunters.
In terms of strategy,
during the daytime, the focus will be on shorting during rebounds;
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