On February 7th at 11:00 (UTC+8), ETH is approximately $2,060, with a deep V-shaped rebound over the past 24 hours, ranging from a low of $1,773 to a high of $2,094, a rebound of about 16%, indicating an oversold correction. The medium-term trend remains unchanged.

1. Core Technical Analysis (4-hour / Daily Chart)

- Pattern: Daily chart shows a long lower shadow deep V, 4-hour rebound correction, weekly chart still in a downtrend channel, medium-term trend unchanged.
- Moving Averages: The 24-hour MA around $1,980 acts as a short-term bullish/bearish dividing line; Daily MA5/MA10 death cross, with clear resistance from MA20/MA30 above.
- Indicators: RSI(14) has recovered from oversold levels to around 45; 4-hour MACD shows diminishing bearish momentum with dual lines turning; volume increased during rebound, but watch for volume shrinking and a potential pullback.
- Key Price Levels: Strong support at $1,800 (today’s low area), a break below would invalidate the rebound; first resistance at $2,000 (24-hour MA + dense trading zone), second resistance at $2,090 (today’s high, a breakout would strengthen momentum).

2. Actionable Strategies

- Long Positions: Hold above $2,000 with volume increase and positive funding rate, try a small position (≤30%), stop-loss at $1,790; if it breaks $2,090 with volume, add to 50%, target $2,180.
- Short Positions: Rebound to $2,070–$2,090 encounters resistance with volume shrinking, try a small short position, stop-loss at $2,110, target $2,000.
- Wait-and-See: Break below $1,800 with liquidation rebound and decreasing volume, reduce positions or stay on the sidelines to avoid risk of failed rebound.

3. Risks and Key Signals

- Risks: High liquidation in the past 24 hours across the network, institutional deleveraging may cause secondary selling pressure; medium-term trend remains unchanged.
- Confirmation Signals: ETF net inflow exceeding $80 million, decreasing liquidation events, USDT premium >0.3%, combined with volume support at resistance levels, increasing confidence in a bullish move.

Conclusion: The short-term rebound is a correction from oversold conditions and deleveraging, not a trend reversal. Trading should focus on key levels, volume, and funding conditions, with strict position control and stop-losses. Prioritize quick short-term trades, and wait for weekly chart stabilization signals for medium-term positioning.