🖥️2.1 Midday Market Insights.🖥️
$BTC Insights:
The market is really well played, after a good rise, it broke through in the early morning and then crashed. Many may be questioning why the crash?
The pce data also met expectations, so why the crash? There is no reason; the answer is already revealed by the market.
Bitcoin broke through with volume at 102728, and the hourly closing price is above 102728; long positions can be added on the right side, with stop losses recovered.
102335 broke with volume; unable to recover on the rebound, short positions can be added on the right side, with stop losses recovered. Pay attention to the changes in volume.
A pullback to 101509 is a false breakdown; recover with light long positions, and set stop loss at the false breakdown low. If it cannot be recovered, do not go long.
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Bitcoin's hourly level of 103062 must be broken and firmly established to continue moving up, with target positions of 104067-104819 above.
Pay attention to the 2b false breakout at 103880 above; place a light short position. Set stop loss at 104411.
Conservative players wait to go long at 100667; if it breaks below 100000, stop loss must be set.
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At the 4-hour level, if 101410 is broken, it will go back again, looking down to 100292-99314.
Upper resistance at 103000-103871-104510
Lower support at 101861-101397-100682
Do not look for reasons for the decline; seek answers solely from the market.
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$ETH Thoughts:
The second Bitcoin broke through 3308 with volume; long positions can be added on the right side, with stop losses recovered.
3300 broke with volume; short positions can be added on the right side, with stop losses recovered.
A pullback to 3276 confirms valid support; light long positions can be added, with stop loss set at 3244.
The second Bitcoin performed well yesterday, but the first Bitcoin held it back; how can the second perform alone when the first has run away?
The second Bitcoin must break through 3330 on the hourly level to look up to 3367-3408. If it cannot break through 3330, and the 4-hour level of 3277 is broken, it will need to retest 3220-3176.
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Above the second Bitcoin, pay attention to 3349 for a light short position; set stop loss at 3382 if broken.
Left-side orders: 3225 for long, set stop loss at 3200 if broken.
Upper resistance at 3331-3364-3400
Lower support at 3267-3237-3200
The first day of February has left me quite disappointed! Both Bitcoins need to work harder; I believe you can do it, keep it up! Meeting adjourned.
