February 6th BTC/ETH:

The market plunged again late at night to the 60,000 level, is this the final liquidation of the last big whale hunting the panic sellers?

As of now, BTC has retraced 50% from its all-time high in just four months, with a single-day drop of over 10 points. The 70,000 level is where many spot traders have their main positions. Breaking below this psychological level has accelerated chain reactions of selling. Big whales are also being forced to cut losses. Yesterday, the peak was at 7,200, with the secondary target at 2,150, and the fourth target at 6,500, with 1,900 successfully reached. The subsequent secondary decline was indeed a pleasant surprise, after all, a big drop is never the bottom!

BTC
Last night’s decline cleared out a large amount of leveraged panic sellers. It rebounded from the weekly strong support at 5,980, forming a bullish resonance with the oversold RSI signal. There is a short-term rebound demand. Watch for a pullback to support at 6,440. If it doesn’t break this level, the rebound pattern remains intact. Short-term resistance for the rebound is at 6,690-6,890. Keep an eye on the daily resistance around 7,200.

Around the 6,440-6,800 range for panic sellers, with support at 6,330. Breakthrough targets are 6,690-6,890, with a potential move up to 7,220.

ETH
Around the 1,862-1,887 range for panic sellers, with support at 1,810. Targets are 1,968-2,031, with a breakout upward to 2,098.

Short-term trading is flexible and varies based on individual positions. Support levels depend on your actual holdings! $BTC #当前行情抄底还是观望？