2026.2.6 Market Analysis:

Bitcoin continues to decline sharply within the day, breaking through multiple support levels and reaching a low of 60,000 in round numbers. Subsequently, buying interest gradually enters, leading to a slight rebound. Currently, the price remains oscillating around the 65,000 level. On a monthly chart, the current trend is an undisputed continuation of a bearish decline, meaning the bear market has not yet changed. The market has been in a downtrend on a large scale, and as previously mentioned, whether in terms of price range or time span, a bear market is unlikely to end in the short term. Therefore, this is not the so-called bottom-fishing price.

On a weekly chart, today is Friday. This week, the market experienced an amplitude of 25 points and a decline of about 16 points, indicating a significant downward movement with a span of nearly $20,000, which confirms the continuation of the downward trend on the monthly scale. Once the price breaks below 74,500, the market will officially shift from the upper oscillation zone into the 30,000 to 73,000 range.

Looking at the 3- to 5-day moving averages, today is February 6th, and both the 3-day and 5-day moving averages are changing simultaneously. The market faces a substantial gap after the crossover, which also presents an opportunity for a rebound. The recent continuous decline on the daily chart, with MA5 trending downward, indicates that the rebound timing has not yet arrived. Since today marks the simultaneous crossover of two major levels, there is a high probability of a rebound in the short term.

Additionally, on the weekly level, there is also a significant chance of a bottoming and rebound after Monday, as all timeframes are entering oversold zones with limited downside space. On the daily chart, after a rapid decline in the morning, a quick rebound occurred. In recent days, due to the timing of the larger timeframe crossover not yet being reached, the market has shown a stepwise decline, with MA5 under strong pressure. Therefore, short-term resistance is concentrated around the daily MA5.

In summary, the large-scale trend continues to be bearish, and this is not the time for bottom-fishing. The market will not end in the short term. As for the smaller timeframes, they are experiencing continuous bottoming attempts. Coincidentally, today is the day when two major levels are crossing over simultaneously, increasing the likelihood of a rebound.

In the short term, intraday trading should focus on buying on dips. Regarding the larger scale, the bearish trend will persist. Resistance levels for Bitcoin are at 71,000 and 76,000, with support levels at 55,500 and 48,700.

Ethereum is also generally declining in sync, with a drop of 13.1%, reaching a low of $1,730. Currently, it is consolidating around $1,880. The large-scale trend remains bearish, and once the price breaks below $2,100, it indicates the market has officially entered the mid-lower zone of the upper oscillation area. Resistance levels above are at $2,090 and $2,360, with key support levels at $1,420 and then $1,150.