Cryptocurrency News

February 10th Highlights;

1. South Korean Financial Supervisory Service: Bithumb's erroneous issuance of Bitcoin has shaken its credibility and may face business suspension and the highest level of sanctions.

2. Last week, global publicly listed companies (excluding mining firms) had a net purchase of approximately $92.83 million in Bitcoin for the week.

3. MegaETH announced that the mainnet is live and launched the ecosystem frontend "The Rabbithole".

4. Spot gold is currently priced at $5,032 per ounce, and spot silver is priced at $81.22 per ounce.

5. Backpack CEO: All team tokens are held in the company treasury and locked for at least one year after the IPO.

Trading Insights

In fact, what destroys traders is not the market but three kinds of inner demons: 1. Expectation addiction: Always wanting to catch every wave, feeling anxious if missed. But the market is not a lover; it does not give you opportunities just because you try hard. 2. Emotional revenge: Losing once makes you want to win back urgently. Orders placed in such moments are 90% nightmares. 3. Illusionary confidence: Earning a little makes you think you understand the market, but it’s just the trend being nice, not strength. Those who can overcome this save themselves; those who cannot keep falling in the same place. I once thought trading relied on "courage." Later I realized that true courage is: being able to stay in cash when you can, admitting mistakes when you need to; waiting when you should, keeping silent amid all the noise. The first lesson the market taught me is to lose money, the second is to stay quiet, the third is to train myself to be unshaken by the market. Now I increasingly believe in a saying: The market never rewards smart people; it only favors the patient. The true growth of a trader is not in a bigger account but in a steadier heart, being able to understand yet not rush; holding firm yet not floating; being able to afford losses without chaos; being able to wait long yet not panic. It turns out that the biggest enemy on the trading path has always been ourselves.

LIFE IS LIKE 

A JOURNEY  ▲

Below are the real trading group orders from the Big White community this week. Congratulations to the friends who followed along. If your trades are not going smoothly, you can come and try your luck.

The data is real, and each order has a screenshot sent at that time.

Search for the public account:Big White Talks Coin

B Station and YouTube account:Daquan777

BTC

Analysis

For Bitcoin at the weekly level: In terms of K-line, last week's K-line price hit a bottom and rebounded after reaching around 1750, closing with a lower shadow hammer line, with 1750 being the recent key support. The first resistance above focuses on the horizontal neckline and ice line: around 2120, providing the first short-term resistance.

In terms of K-line momentum, due to the continuous three consecutive bearish candles hammering down to 1750 from the high of around 3400, it indicates that the bearish momentum is in the "main downtrend" phase. Generally, after a main downtrend, a wide-ranging adjustment is needed; even with a violent rebound, a base-building structure is required. Referencing the three consecutive bearish candles in August 2024, a prolonged consolidation structure formed at the bottom before a subsequent rebound.

Therefore, the weekly trend has just ended its downtrend, with support at the bottom. It will oscillate between support and resistance. The upper reference level allows for high selling and low buying oscillation strategies, while currently operating from the oscillation left side means that the overall oscillation structure still needs to wait.

The current bottom is likely to experience oscillation for three reasons:

(1) Firstly, the options positioning still leans towards bearish. By the end of February, the largest bearish options are concentrated between $60,000-$50,000, which is a forward-looking signal embedded in the market's implied probability, rather than a lagging sentiment.

(2) Secondly, derivative signals remain fragile. Extreme skewness, frequent negative funding rates recently, and inverted volatility structures are more in line with the characteristics of a "relief rally" under a fear framework, rather than a trend reversal.

(3) Thirdly, ETF flow data shows continued outflows. As of February 5, the monthly net outflow from Bitcoin ETFs has reached $690 million. Although there has been some inflow recovery in recent days, the existing model shows institutional allocators have not yet transitioned from "de-risking" to "re-engagement".

At the daily level: K-line price rebounded to the fibo 0.236 plus ice line resistance and closed with ten consecutive doji stars, which serves as a warning signal, indicating that there might be a direct break down for a second bottom exploration, also with a probability of breaking through short-term to reach the fibo 0.382 resistance area near 2380. The current bottom of 1750 has been confirmed; the challenge now is to wait for the high point's specific position to form, allowing for aggressive and conservative short plays at positions like 2120 and 2380, respectively. If 2120 directly drops for a second exploration, we would be at the high point for high selling and low buying; if the market breaks through further, set stop losses for aggressive positions and start conservative shorts at around 2380.

Similarly, if prices again touch the 1750 support and there are signs of breakdown or downward spikes, long positions can still be initiated. The overall idea is to high sell and low buy at the left side of the oscillation structure, confirming high points in high shorts and entering low for second bottom explorations.

On the Vegas indicator, a dead cross is expected, coinciding with the formation of the bottom oscillation structure. As the oscillation time extends, the Vegas will dead cross. So, it can be confirmed that we are currently in a trend rebound to verify the bottom, but not a trend reversal.

ETH

Analysis

Monday wasn't very calm; both Japan and China have some influence on the US economy. After the victory of the high market early wheat, China began to reduce its exposure to US debt. Although risk markets are somewhat turbulent, the impact feels limited. US stocks shifted from a low open to an upward movement, pulling $BTC back above $70,000, and the current market sentiment is quite healthy.

The reason for this drop is not yet clear and still requires more data, but US stocks remain resilient. While cryptocurrencies can synchronize with US stocks, especially tech stocks, they do so only in a synchronized but different frequency; due to liquidity, the previous forms of dropping harder and rising stronger have now turned into dropping harder and rising weaker states.

The S&P 500 is close to new highs, while Bitcoin has dropped 40%. To break free from this situation, either stronger stimuli for the cryptocurrency industry will be needed or the restoration of liquidity. Of course, if the market expects liquidity to return, that would also be good for cryptocurrencies, such as a significant cut in interest rates.

For buying, a retreat to around 1922.5-1885 can be targeted, with rebound targets looking towards around 2000.

Disclaimer: The above content is purely personal opinion and for reference only! It does not constitute specific operational advice and does not bear legal responsibility. Market conditions fluctuate constantly, and the article may have a certain delay. If there are any unclear points, feel free to consult.

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