Bitcoin (BTCUSDT｜4-hour level) Technical Analysis｜2026.02.07

4-hour structure judgment:

From the 4H structure, BTC completed a medium-term top at the 126,000 USD level, and the price has shown a stair-step decline characteristic: rebound heights are decreasing step by step, and lows are continuously moving down, which is a typical bearish structure. Currently, this round of decline has evolved from a "trend pullback" to an acceleration phase, with a very clear bearish dominance.

The latest drop directly broke through the 72,000–70,000 USD range and showed a quick spike to around 63,000, indicating that passive stop-losses and strong liquidations in that area were triggered, representing an emotional release after a structural breakdown. However, it is important to note that the current situation does not signify the end of the trend, but rather the entry into the "post-breakout game phase."

Significance of the current price position:

68,000–70,000 was originally the core support at the daily level, but it has been confirmed as lost at the 4H level, and this area has officially transformed from "support" to the first resistance zone. As long as the price cannot quickly recover and stabilize within this range, the downward trend is still not over.

The nature of the current rebound is more inclined towards a technical repair after a decline, rather than a trend reversal.

Key level judgment:

63,000–60,000 USD: The first support area at the 4-hour level, also the area for the emotional release's long-short game. If this range stabilizes, it is expected to unfold into a consolidation repair; if it breaks down with volume, the market will enter a deeper round of trend pullback.

70,000–72,000 USD: The currently most critical resistance area; only by returning and consolidating back in this zone can the bearish trend pressure be alleviated, otherwise, all rebounds will be viewed as bullish traps or repairs.

76,000–78,000 USD: A strong pressure zone under the bearish trend, corresponding to the starting point of the previous round of accelerated decline, which hardly has the conditions for a single breakthrough.

Rhythm deduction:

At the 4-hour level, it is more likely to see:

"Sharp drop → Weak rebound → Further probing / consolidation" rhythm, rather than a continuous strong reversal. Even if a rebound occurs, it is likely to be primarily a consolidation exhaustion, giving the market time to digest high-level chips and leverage risks.

In summary:

The 4-hour structure has clearly turned bearish, and below 70,000 belongs to the bearish advantage area. Until it re-establishes above 72,000, the rebound can only be treated as a repair, with the trend still leaning towards downward.