Just looked at the charts and Bitcoin's been taking quite a hit since early February. Back on the 4th, we saw it dip below 73k with over 3.5% daily losses, and honestly it's been brutal to watch. From that 126k peak last October, we're talking roughly 40% down now. This is shaping up to be one of those historical moments in the market.

The technical picture is pretty bearish right now. On the daily, Bitcoin's been printing consecutive red candles with only minor bounces in between. MACD just formed a death cross on the daily chart, which usually signals weakness ahead. RSI is hovering around 50, so no extreme oversold conditions yet, but the overall tone is definitely cautious. The hourly chart is just ranging between 75.4-77k without any real conviction either direction.

If you're watching this, the setup seems to favor shorting any bounces rather than catching a falling knife. I'd be looking at resistance around 77.2k as a potential short entry, with stops above 78k and targets down toward 74.5-73.7k. If it breaks below 73k, the next support zone is around 71k. For any light longs, I'd wait for a pullback to 73.5-74.3k range with tight stops below 72.7k.

Eth's following a similar pattern too. But yeah, bitcoin price action on february 4 2026 was a wake-up call, and the recovery since then hasn't been convincing. Stay disciplined with risk management here.