From the LBank blog.
$BTC is currently experiencing a pullback, with the critical support level at $24,000.
The weekly trend is in a transition phase, with the MACD showing strong upward momentum and KDJ still indicating a bullish outlook. The daily chart is currently in a correction phase, with MACD beginning to move sideways and KDJ contracting, showing a need to find a solid support point.
The upper resistance level to watch is around $25,350 and if the price breaks below $24,200 the next support level will be at 23100. On the 4-hour chart, BTC has fallen below the EMA30, with MACD indicating a decrease in trading volume and KDJ diverging downwards, while the Bollinger band is currently touching the support level at $24,200.
As for ETH, the weekly trend is beginning to fall, with a focus on support levels at $1,560 and $1,650, which are not particularly strong.
The MACD indicates a decrease in trading volume, while KDJ shows a weak upward trend, and the overall weekly trend is not optimistic.
The daily K-line trend is also falling, with MACD indicating a decrease in trading volume and KDJ contracting downwards, while the Bollinger band is providing support at $1,620. On the 4-hour K-line chart, $ETH has fallen below the lower Bollinger band, indicating a bearish trend, with KDJ and MACD also indicating downward momentum. $1,650 is the first support level to watch.
Overall, both Bitcoin and Ethereum are experiencing a bearish trend, with $BTC testing key support levels and $ETH struggling to maintain its upward momentum. Traders should pay close attention to the support and resistance levels mentioned above to make informed decisions.
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This article came directly from the LBank blog, found on https://lbank-exchange.medium.com/february-22nd-market-analysis-from-lbank-derivatives-d1977437fb14?source=rss-87c24ae35186——2
