February 6th, Jingyi's Bitcoin Market Outlook

The Federal Reserve's hawkish stance, a pullback in the US stock market combined with profit-taking, triggered a deep decline, breaking below the key support level of 64,000, with a low near 59,800. Technical indicators show the MA7 and MA30 forming a death cross downward, exerting pressure on the moving averages. The intraday rebound from the lows is merely a weak correction after a sharp decline, with long bearish candlesticks and short bullish candles, indicating that the bearish momentum has not been fully released. The strategy is mainly to go short at higher levels.

We are currently in a phase of large-scale panic selling, and a bottom has not yet been reached. The real opportunity for substantial gains is at the bottom: consider deploying half of your position in potential coins around the 5-digit level for Bitcoin. If Bitcoin drops to the 4-digit level, Jingyi believes there’s no need to hesitate—just buy the dip and wait for the bull market to begin.

For those who have missed the bottom in the bear market or failed to profit from the bull market entry, this is the time to properly position at the bottom, seize opportunities, and move towards financial freedom!

Trading Suggestions:
Short around 651-665 on Bitcoin’s rebound, target 63,000-60,000, and continue downward if broken.

Short around 1925-1950 on Ethereum’s rebound, target 1866-1786, and continue downward if broken.

These are personal opinions for reference only. Market fluctuations are quite large, so it’s recommended to trade cautiously.

#当前行情抄底还是观望？