2.26 Bitcoin & Ethereum Morning Strategy

Yesterday's short squeeze was extremely strong, instantly igniting market sentiment and causing many short positions to be liquidated. But the core judgment remains unchanged: sentiment can be manipulated to a rhythm, but the trend is difficult to easily reverse.

From the 4-hour chart, although the price completed a bottoming rebound and temporarily broke through the 70,000 level, it appears to be a bullish rally, but this is only touching the resistance rather than a genuine breakout. The 70,000 level is a key resistance zone in this phase. Without significant volume stabilization and structural reversal, this rally is more about emotional release and short covering, not a trend-level bullish takeover.

Currently, the previous downward structure and the downward shift of the highs have not been broken. The overhead selling pressure remains heavy, with dense trapped positions, and there is little willingness among chasing buyers. Therefore, we continue to maintain a bearish stance, placing short positions at key resistance levels, aiming for small stop-losses to play for larger gains.

Personal Trading Recommendations

- Bitcoin: Short at 68,800-69,800, with the first target at 66,500; if broken below this level, look towards 64,500 and 63,000.
- Ethereum: Short at 2,060-2,100, with the first target at 2,000; if broken below this level, look towards 1,950 and 1,880.