February 27 Market Analysis: Bitcoin Sage Moment, Don't Break the Lifeline at 66,000!

Yesterday, Bitcoin entered the sage moment. Our suggested long entry at 66,200 was off by more than 200 points and not very precise. The morning consolidation also continued. Based on the current 3-day moving average closing, the bottom pattern has appeared. Combining with smaller timeframes, the 66,000 level becomes critical. As long as the rebound here does not break below, the weekly chart will close with a positive candle, indicating the downtrend on the weekly chart may come to an end. Therefore, the remaining market this week remains worth watching.

$BTC Bitcoin's resistance is at 69,600. If a top forms and a correction begins here, we need to see if 66,000 can hold and trigger a rebound. If the rebound fails to break the M-headline, caution is needed for further correction. The overall market outlook is shown in the image below. $SOL As for Solana, watch whether the resistance at 90.4-91.2 shows a top reversal, and observe the support at 81.8. The overall expectation is similar to Bitcoin, so no further elaboration here.
$ETH For Ethereum, look at the resistance around 2115-2130. After a correction, observe how strong the rebound is at 1930-1915 support. If the neckline is broken again, it could lead to a collapse, which would be a trap for long positions.

In summary, this week is a crucial battle between bulls and bears. The weekly candle close is vital. If it closes with a bearish candle, the effort on the daily chart will fail, and the weekly downtrend will continue. So, let's wait and see who wins the big battle this week! If you don't understand the market or can't determine the direction accurately, welcome to join the Chief. Click to join the Chief community (Follow the Chief for daily market analysis and precise entry points. Long and short ideas are for reference only. Strict stop-loss and take-profit are recommended).