Bitcoin (BTC) and Ethereum (ETH) continue their previous downward trend

Yesterday's overall decline was primarily triggered by: the US Treasury Secretary's statement implying no bailout, which directly sparked market panic selling, showing a daily chart with a "lower low, lower high" bearish structure. After a large red candle on February 5th broke below $70,000, the price continued to decline to around $65,000 on the 6th, indicating persistent selling pressure. Although there was a rebound after finding support near $66,666 on the 4-hour chart, the rebound was limited and failed to break through the $68,800 resistance.

Technical analysis shows:
Bitcoin (BTC): The daily candle closed bearish with a long upper shadow, indicating significant resistance above. The bulls failed to hold the high levels. The K-line shows a one-sided downtrend, repeatedly breaking key support levels, with weak rebound momentum, dominated by bears. Short-term, medium-term, and long-term moving averages are all in a bearish alignment, suggesting a technical rebound is possible, but the overall trend remains bearish. The daily Bollinger Bands are expanding downward, with the price trading below the lower band, indicating strong downward momentum. Resistance levels are focused on the $67,000-$68,800 range.

🎯Bitcoin BTC 65900-66000 Bearish, target 65500-64800, after breakout watch for 64000-63500

Ethereum (ETH): The daily chart shows consecutive bearish candles, with rebound strength clearly weaker than Bitcoin. The Bollinger Bands are opening downward, and the price is trading below the middle band, indicating a short-term weak consolidation pattern. The moving average system is in a bearish alignment, with the price far from the averages and short-term moving averages exerting obvious resistance. The RSI indicator has entered the oversold zone, suggesting a technical correction is needed. Resistance levels are focused on the 2100-2200 range.

🎯Ethereum ETH 1930-1940 Bearish, target 1900-1850, after breakout watch for 1820-1700

The current market remains in a consolidation phase, with obvious resistance above. A volume breakout is needed to confirm the trend. It is recommended to trade within the range by buying low and selling high. Core strategy: follow the trend, be cautious about bottom fishing, control position sizes, avoid blindly bottom fishing or chasing rallies, and wait for signs of market stabilization before making strategic entries.