February 19th Midday Market Analysis

Bitcoin is currently oscillating within a bullish flag pattern, consolidating for three days without a clear breakout above or below. Both bulls and bears are in a stalemate. For traders who prefer short-term high-probability trades, small positions can be taken within the range of 65,670–65,732. Once a breakout or breakdown occurs, stop-loss should be executed promptly. This kind of consolidation will eventually lead to a stop-loss, so be mentally prepared.

Previously, Bitcoin attempted to rise to 68,485 twice but failed and pulled back, which is a normal reaction at resistance. To continue the short-term rebound, it must first stabilize above 66,790 to have a chance to reach the upper boundary of the flag at 67,532. Breaking this level could challenge resistance at 68,485 and 69,213. If it cannot break above 66,790, a breakdown of the flag pattern is only a matter of time. The support at 65,298 may not hold, and a retest of the previous low around 59,900 is highly probable.

$BTC Trading strategy is simple: a volume breakout above 66,888 signals a long entry on the right side to catch the rebound; a volume breakdown below 66,380 with a failed rebound indicates a short entry, remember to set a stop-loss. If the hourly chart stabilizes above 66,868, look for targets between 67,273 and 68,337; if a four-hour candle breaks below 66,163, watch the support between 65,240 and 64,708.

Ethereum is weaker, having already broken below the flag pattern. Currently, with no volume-driven rebound, it’s difficult to return to the pattern. The chart shows a three-pike top, with the lower boundary of the flag acting as strong resistance. Without a breakout, a significant move is unlikely.

$ETH Ethereum trading ideas: a volume breakout above 1,977 signals a long entry; a breakdown below 1,942 signals a short. A successful retest of 1,900 support can be traded lightly long, with a stop-loss below 1,863. If the hourly chart stabilizes above 1,987, target 2,011–2,040; near 2,040, consider a light short position, with a stop-loss at 2,091. Place a buy order at 1,831 on the left side, with a stop-loss below 1,790. If the four-hour candle breaks below 1,938, expect a test of support between 1,900 and 1,858.

Overall, both major cryptocurrencies are oscillating within key zones. Do not chase long positions without a breakout, nor short positions without a breakdown. Follow the breakout signals to guide your trades.