Market Analysis from LBank Derivatives from 14th of February

BTC

The downward trend since the $25,200 high points has ended, and the short-term price is currently testing the $21,600 resistance level after breaking above it.

According to the 1-hour chart, the short-term trend has retraced below the $21,930 support level, and the rebound is being tested. However, if the rebound does not break this level, further decline is possible.

Resistance level to watch out for: $23,500

Support level to watch out for: $21,500

ETH

The downward trend since the $2,030 high point has not changed, and the short-term price is testing the $1,680 support level after a sharp increase.

On the 1-hour chart, the short-term trend retraced below the $1,555 support level and is now being tested for a rebound. However, if the rebound does not break this level, further decline is still possible.

Resistance level to watch out for: $1,555

Support level to watch out for: $1,200

In conclusion, both $BTC and $ETH are in a state of testing resistance and support levels, and the market will continue to pay attention to the test results in the future.

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