📊 BTC confirms entry into a bear market rhythm, is the rebound a trap for bulls?
Currently, the market is unlikely to reverse the downward trend without new stimulus news. Although there was a brief inflow of ETFs on February 2, the norm of large net outflows has resumed. Coupled with the potential selling pressure of over 600,000 bitcoins, the market remains precarious.
Core point analysis:
🔹 BTC (Bitcoin):
• Daily resistance: $73,000 - 74,000. If it cannot quickly reclaim 73, all increases will be a "false rebound."
• Trading strategy: Continue to hold short positions near resistance levels.
• Short-term long opportunities: Watch for signs of a bottom near 70,400.
🔹 ETH (Ethereum):
• Weak trend: Dragged down by Bitcoin, daily resistance level 2,180 - 2,200.
• Trading strategy: A pullback to 2,180 without breaking is a shorting opportunity.
• Short-term long opportunities: Watch for a bottom at 2,080.
💡 Bottom-fishing signals:
From a broad perspective, please remain patient. Focus on Bitcoin entering the 68,500 - 69,000 range and Ethereum entering the 1,800 - 1,820 area. Also, keep a close eye on whether ETF capital outflows weaken and whether institutional large holders increase after-hours.
