Bitcoin (BTCUSD | Daily) Technical Analysis | 2026.02.06

From this updated daily chart, BTC has shown a very critical signal change: the price has effectively broken below the support level of $65,000, dipping to around $62,600. This step means that the medium-term adjustment has upgraded from a 'high-level pullback' to a 'trend breakdown'.

Structurally, $65,000 was originally:

An important sideways area before the main upward wave starting in 2024

Also a 'continuation platform' in the previous round of increase

Now it has been directly pierced by a larger solid daily bearish candle, and the close could not pull back, which technically constitutes an effective break, not a false breakdown.

From a rhythm perspective, this is not an emotional one-shot kill, but rather more like:

High-level distribution completed → Trend turns bearish → The first phase of the main downward wave unfolds.

Next, even if a rebound occurs, it is more likely to be a technical pullback, rather than a new round of main upward movement.

Key points summary:

$65,000: has turned into the first resistance level, a rebound here is likely to face resistance again

$60,000: psychological barrier + previous structural support, a must-contend point between bulls and bears in the short term

$55,000–$52,000: once $60k is lost, medium-term pullback target range

Above $80,000: only by regaining and consolidating can we talk about trend restoration

In terms of operational thinking, it is more suitable to reduce positions and control risks, rather than aggressively trying to catch the bottom on the left side. What is truly worth paying attention to is whether $60,000 can hold and form a new daily structure.

In summary:

$65,000 has been broken, BTC enters the medium-term downward phase, $60,000 is the last defense line for bulls, and it is not advisable to act aggressively before it is reclaimed.