BTC is currently experiencing a consolidation phase, seeking a bottom. In the short term, support levels are at 70,000/68,000/65,000. Until signs of stabilization appear, focus on defense.

Key Support Levels and Scenarios (2026-02-06)

- First support: 70,000 (psychological threshold + short-term bullish/bearish dividing line). Holding this level may lead to a weak rebound, targeting 71,000-72,000; a break below indicates moving to the second support.
- Second support: 68,000 (recent low + minor double bottom neckline). There is short-term support here; a volume breakout could lead to testing the third support.
- Third support: 65,000 (medium-term strong support + whale cost zone). If stabilized here, bearish momentum may be exhausted; a further break could open up larger downside space.

Confirmation of stabilization (both are essential):

1. Support level halts decline with a bullish candle and volume rebound
2. 4-hour RSI shows bullish divergence
3. No new lower lows, forming a minor double bottom

Operational Recommendations

- No position: Do not chase the bottom. Wait for stabilization signals or a rebound to 71,000-72,000 with resistance before considering a light short position, with a stop loss at 73,000 and target at 68,000.
- Holding positions: Reduce leverage and trim positions on rebounds to 71,000-72,000, strictly set stop losses, and avoid holding large positions.
- Pace: Focus on observation and short-term hedging. Avoid medium-term positioning until stabilization signals appear, then adjust accordingly.

I will closely monitor 70,000/68,000/65,000 and stabilization signals, and will notify immediately when they occur.