In February 2025, the crypto market is approaching the end under the widespread disappointment of investors. It is eagerly anticipated by all sectors that after entering March, the encryption market can break the current downturn deadlock and usher in a true dawn of recovery, quickly ending this severe 'late spring cold' situation. BTC has been following a trend of short positions since the early session, with prices fluctuating downwards all the way until it touched the key support level of 78220 to temporarily halt the decline. As the saying goes, things will turn around when they reach the extreme, and BTC immediately launched a bottoming Rebound market, with prices quickly rising to the 80798 level. However, it encountered a strong resistance from the market's long and short game at this point, causing the Rebound momentum to come to a sudden halt. Ethereum's trend is highly synchronized with BTC, with prices falling all the way to a temporary low point of 2070 under the continued suppression of short positions.

In-depth analysis of the technical structure, from the 4-hour chart, many significant signals clearly show the strong momentum of short positions in the market. In terms of the MACD indicator, the fast and slow lines have formed a typical death cross below the zero axis, and the volume of short positions continues to be released, indicating that the energy of short positions has not been completely exhausted, and it is highly likely to continue to dominate the market in the short term. The midline of the 4-hour Bollinger Bands has moved down to the key level of 85000, which not only forms a dynamic strong resistance level, but also indicates that the overall center of gravity of the market is gradually shifting downward, and the suppressive effect of short positions on the market becomes more prominent. It is worth noting that when the coin price tested this area three times recently, it triggered rapid and substantial declines, which effectively confirmed the powerful effectiveness of this resistance level.

Switching to the daily chart perspective, after the previous price surge, the price fell due to the lack of a solid support level. During the downward process, it continuously tested the lower support level, and showed a certain degree of weak Rebound after briefly touching it. However, the volume of short positions is still releasing energy, and the moving average system is overall diverging downwards. From a technical perspective, the market is still in a weak low-level oscillation pattern, and there is still a high possibility of further downward movement in the future. Looking at the four-hour chart, after the price plummeted, it entered a weak repairing and consolidating phase at a low level, and the trading channel showed a narrowing trend, with the price always under pressure below the middle track. From the perspective of bullish volume, there has not been a large-scale effective release. Although the moving average shows signs of upward movement, the demand for repairing and upward movement in the consolidating state is not strong. In the short term, although the bullish volume maintains a certain degree of recovery and warming trend, there is still no obvious sign of stabilizing after a high in the short term. The market continues the weak pattern in the short term, which undoubtedly further highlights the strong control ability of shorts in the current market environment.

Taking into account the technical performance of the current market and the comparison of long and short forces, it is expected that the market will likely maintain a bearish trend tonight. However, the crypto market has always been highly uncertain and volatile, with many potential factors such as adjustments in macroeconomic policies, industry regulatory dynamics, and unexpected global events that may have a significant impact on market trends in the short term. Investors need to closely monitor market dynamics, carefully formulate investment strategies to deal with the complex and ever-changing market environment.