February 15th Market Analysis from LBank Derivatives

BTC

The 30-minute trend shows that the rebound from the low point is greater than $900, reaching $22,300. Although there has been a short-term decline, the probability of bottom formation has increased.

The $21,700 level is the dividing line between long and short positions within a day, and the price will remain strong as long as it stays above this level. The correction is located at $20,710 which is believed to be a normal correction during the upward movement, and the trend has not ended.

Resistance level to watch out for: $23,500

Support level to watch out for: $21,000

ETH

The price of $ETH has been hovering around the 1,500 level, which has been tested several times. Despite the negative impact of the CPI data, ETH managed to hold this position.

The daily chart showed a large bullish candle after the rebound from the bottom last night, temporarily avoiding a situation where the $1,500 level was about to be lost.

Currently, the daily chart continues to experience wide-range oscillations at high levels. If the short-term adjustment around $1,500 is for the purpose of building up momentum for a second rebound, then as long as the coin price stabilizes above $1,580, there is hope for a recovery from last week’s decline.

Resistance level to watch out for: $1,580

Support level to watch out for: $1,200

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