Eugene: Bitcoin at $60,000 may serve as support. Survival is the priority in a bear market; trading requires strict stop-loss measures.

PANews February 8 News, trader Eugene reviewed last week’s market situation and stated that from the perspective of higher time frame (HTF) market structure, the market still has obvious issues. Although Bitcoin at $60,000 can still be considered a reasonable support, he mentioned that the lesson learned from the previous cycle is: never blindly go all-in long without stop-loss protection.
Eugene pointed out that in a bull market, the market tends to be crazier than expected, while in a bear market, the declines are always more severe than anticipated. He admitted that it is currently unclear where the bottom of the bear market is, nor is it certain whether Bitcoin has already bottomed at $60,000, but emphasized that “survival is always the top priority.” He advised traders to evaluate the risk of each trade individually and to implement stop-loss strategies to prevent further downside.