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BearishBitcoin Daily Market Update - Feb. 08, 2026
Bitcoin is currently trading around 69,100–69,300, consolidating after a sharp recovery from the 67,250 support zone. The bounce was strong but still corrective in nature, coming after an aggressive sell-off rather than a clean trend reversal. Price failed to reclaim the 70,000–70,200 area, which remains a key rejection zone and keeps the broader structure cautious.
On the higher timeframe, $BTC is still below previous value areas and major breakdown levels, meaning the overall trend has not flipped bullish yet. The recent upside move looks more like short-term relief and short covering, not fresh long-term demand. Volume has also cooled during the recovery, suggesting buyers are selective rather than aggressive.
Support zones:
68,500–68,000 (intraday support)
67,250 (key short-term support)
66,000–65,500 (next downside area if weakness continues)
Resistance zones:
69,800–70,200 (major intraday resistance)
71,000–71,500 (strong supply zone if price extends higher)
As long as BTC trades below 70k, the market remains vulnerable to range continuation or another dip toward lower supports. A clean acceptance above 70,200 with strong volume would be required to improve structure and shift momentum. Until then, Bitcoin remains in a decision and range-bound phase, where reacting to key levels is more important than predicting direction.
#USIranStandoff #WhenWillBTCRebound
Trade #BTC Here 👇👇👇
{future}(BTCUSDT)
Bitcoin is currently trading around 69,100–69,300, consolidating after a sharp recovery from the 67,250 support zone. The bounce was strong but still corrective in nature, coming after an aggressive sell-off rather than a clean trend reversal. Price failed to reclaim the 70,000–70,200 area, which remains a key rejection zone and keeps the broader structure cautious.
On the higher timeframe, $BTC is still below previous value areas and major breakdown levels, meaning the overall trend has not flipped bullish yet. The recent upside move looks more like short-term relief and short covering, not fresh long-term demand. Volume has also cooled during the recovery, suggesting buyers are selective rather than aggressive.
Support zones:
68,500–68,000 (intraday support)
67,250 (key short-term support)
66,000–65,500 (next downside area if weakness continues)
Resistance zones:
69,800–70,200 (major intraday resistance)
71,000–71,500 (strong supply zone if price extends higher)
As long as BTC trades below 70k, the market remains vulnerable to range continuation or another dip toward lower supports. A clean acceptance above 70,200 with strong volume would be required to improve structure and shift momentum. Until then, Bitcoin remains in a decision and range-bound phase, where reacting to key levels is more important than predicting direction.
#USIranStandoff #WhenWillBTCRebound
Trade #BTC Here 👇👇👇
{future}(BTCUSDT)
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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