February 6th, Bitcoin and Altcoins Silk Road

The Federal Reserve's hawkish stance and a pullback in the US stock market, combined with profit-taking and exiting positions, have led to a deep decline in Bitcoin, which directly broke below the key support level of 64,000, with the lowest approaching 59,800. Technically, the 7-day and 30-day moving averages have formed a death cross and are trending downward. The price is being suppressed by the moving averages. Today's rebound from the lows is merely a weak correction after a sharp decline. The candlestick pattern also shows long bearish shadows and short bullish bodies, indicating that the selling pressure has not been fully released. Going forward, the main strategy is to short on rallies.

The market has now entered a phase of widespread panic selling and has not yet bottomed out. The real opportunity to make big money is to buy the dip at the bottom: when Bitcoin drops into the five-figure range, consider half-position in potential coins; if it falls into the four-figure range, don’t hesitate—buy the dip immediately and patiently wait for the bull market to start.

If you always miss the bottom during bear markets and don’t make money during bull markets, now is the time to carefully position at the bottom and seize the opportunity to move toward financial freedom!

Trading Suggestions:

When Bitcoin rebounds to the 66,900-67,500 range, target 63,000-60,000; if it breaks below, continue to look lower.

ETH rebounds to the 1980-2000 range, target 1866-1786; if it breaks below, continue to look lower.