February 18 Midday Market Analysis

Bitcoin is currently still trading within a consolidation range of an upward trend. Around the 67,200 support level, the candlestick chart has shown two instances of dips followed by rebounds, forming a double bottom signal indicating stabilization. However, for this signal to be effective, the previous low must be held. If this low is broken, the price will continue to decline, entering a bearish downtrend. Only by successfully breaking through the consolidation range and the previous resistance zone to reach new highs can the rebound rally continue. The first target is 69,237; after breaking this level, there is potential for higher gains. Remember, 68,246 is a key resistance level. If the price cannot break through this point, any further rebounds will be futile.

$BTC Trading strategy should follow the signals: a volume breakout above 67,909 suggests going long; a volume breakdown below 67,036 with a failure to rebound indicates going short—be sure to set stop-loss orders. On the hourly chart, if the price stabilizes above 68,223, the next resistance levels are 69,271 to 70,040. If it cannot hold this level, avoid blindly going long. The main resistance levels are at 68,223, 69,271, and 70,040; support levels are at 66,895, 65,916, and 65,128. A four-hour candle breaking below 67,331 could lead the price to test the 66,071 to 65,195 range.

Looking at Ethereum, its overall trend is stronger than Bitcoin. It is currently consolidating within a triangle pattern and has formed a W-bottom pattern. The 2000 level is both the upper boundary of the triangle and the neckline of the W-bottom, creating double resistance. The options are either a decisive breakout or continued consolidation. After breaking through 2000, the upward potential extends to 2046–2075. If it falls back into the triangle range, it could test support at 1,940 to 1,915. Ethereum’s movement largely depends on Bitcoin’s direction; as Bitcoin rebounds by about 1,000 points, Ethereum is likely to see a significant rally.

$ETH Ethereum trading strategy is clear: a volume breakout above 2,004 suggests going long; a breakdown below 1,978 suggests going short—stop-loss orders are essential. A rebound from the support at 1,928 can be a good long entry; if it breaks below 1,900, set a stop-loss. An order to buy at 1,878 with a target at 1,841 is also possible, with a stop-loss below 1,841. On the hourly chart, if the price stabilizes above 2,004, the next targets are 2,045 to 2,096. A light short position can be taken near 2,096, with a stop-loss above 2,142. Resistance levels are at 2,004, 2,045, and 2,096; support levels are at 1,956, 1,909, and 1,877. A four-hour candle breaking below 1,935 could lead the price to test support at 1,905 to 1,863.

Overall, Bitcoin is the market indicator, with Ethereum showing stronger upward momentum. In the short term, avoid guessing the direction; focus on key levels for breakout signals.