#我在Gate广场过新年 Bitcoin consolidating and absorbing buying pressure: is it a setup for a surge or are buyers weakening and the price will continue to pull back?

A rebound is not a bull market, just a dead cat bounce!
Currently, the market has rebounded from the lowest point by over ten thousand points, giving everyone hope. However, the reality is that institutional players are still gradually clearing their positions, meaning the true bottom has not yet arrived. The key factor is the Federal Reserve's interest rate cut timeline: no rate cuts are expected in March-April; only when Powell takes office in June is there a chance for a cut. Meanwhile, other countries are tightening monetary policy, making rate cuts by the Fed even more difficult. Therefore, the market is likely to remain volatile, with a high risk of a second dip due to excessive selling pressure.

From the overall pattern, BTC's rebound high points are gradually decreasing, indicating insufficient buying strength. The four-hour MACD remains bullish but is shrinking and may soon form a death cross. The KDJ indicator is continuing downward. Watch for resistance around 7000 during rebounds. If the hourly rebound cannot hold above this level, the market will continue to weaken. Any spike above 7000 can be considered for short positions, with support levels at 7200, then down to 6720, 6430, and 6230.

For ETH, the daily rebound resistance is around 2080-2150. If it can hold above 2080, the main resistance above is 2150. Breaking through 2150 could allow for small long positions on the right side. Short-term trading around 2080 is recommended. Support levels on the downside are 2015, 1928, and 1860.
Short-term trading should be flexible and adjusted according to your own position and risk management!