February 23 Midday Market Analysis

The 4-hour and daily charts show multiple attempts to rally that faced resistance and pulled back, with consecutive long upper shadow candlesticks indicating that selling pressure above is clearly increasing, and the bearish force is gradually dominating the market. The daily chart has closed in red for several sessions, with prices remaining under key moving averages, suggesting that the short-term rebound momentum has been exhausted, and the trend has officially shifted to weakening.

From a technical perspective, the 4-hour MACD has formed a death cross, with the DIF line crossing below the DEA line. The bearish momentum bars continue to grow, and downward energy is strengthening; combined with decreasing volume during the rebound phase, this presents a pattern of a rebound with no volume and a strong decline, further confirming the short-term weakness.

Trading Recommendations

Bitcoin: Short in batches around the 66,300–66,700 range, targeting approximately 64,000–63,000
Ethereum: Short in batches around the 2,000–2,020 range, targeting approximately 1,800–1,830