February 6, 2026, Bitcoin Analysis

After a sharp decline, a violent rebound occurred, and Bitcoin entered a phase of oscillation and recovery. The bulls and bears are engaged in intense battle, with a focus on light positions and swing trading, while strictly managing risks.

In the morning, a rapid drop to a low of 59,896 was followed by a quick rebound after reaching a new low for the period. Currently trading around 64,480, the day experienced a decline followed by a broad-range fluctuation. The rebound after the sharp drop has not yet reversed the overall weakness, and the short-term trend remains primarily oscillatory and corrective.

The Federal Reserve's hawkish stance continues to maintain high interest rates, tightening liquidity and suppressing risk assets; Bitcoin ETF funds are experiencing net outflows, and institutional withdrawals have triggered selling pressure; combined with a leveraged liquidation wave forming a downward cycle, the market sentiment has temporarily eased after multiple negative factors.

The daily chart shows that the bearish pattern has not changed after a breakdown; the 4-hour Bollinger Bands' lower band rebound faces resistance at the middle band. Resistance levels are at $66,000–$67,000, with strong support at $60,000. The broad-range oscillation zone is clearly defined, with no clear bullish or bearish signals at this time.

Trading strategy: oscillation range between $60,000 and $67,000. Light positions for high sell and low buy: short near $66,000–$67,000 with a stop loss at $68,000, targeting $62,000–$60,000; if the price stabilizes around $60,000–$61,000 on a pullback, consider going long with a stop loss at $59,000 and targets near $64,000–$65,000.

The above is only personal advice for reference and does not constitute investment guidance. Please follow the specific layout of Cheng Jingsheng Shi Pan for actual trading.