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#btc #eth Market analysis for February 7th: Currently, after the market hit a low point yesterday morning—BTC at $60,000 and ETH at $1,740—there was a strong rebound. The market peaked with BTC reaching around $71,500 and ETH hitting $2,115. Based on this rally, it’s most likely just a rebound. From both technical and news perspectives, the overall environment has not changed. The upward momentum is mainly driven by short-term profit-taking by bears. At this stage, it is recommended to consider reducing some positions—those who bought low during the dip or hold high-position resistance orders.
Contract Recommendations:
Focus on short positions, with BTC around $74,000 being a good level to try shorting.
For ETH, consider opening short positions around $2,210.
Weekend trading is usually less volatile. Wishing everyone a good rest and many profits next week!