Deep Analysis of Bitcoin Price Action from the Evening of February 4th
This morning, Bitcoin experienced a sharp decline followed by a rebound, but faced significant selling pressure at the key resistance level of 77,000, causing the upward momentum to halt abruptly. From the current market situation, this rebound is merely a technical oversold correction and lacks substantial momentum from the funding side or news catalysts. Overall, the rebound remains weak.
The daily chart shows a long lower shadow candlestick, suggesting some support at the lows, but the market remains dominated by selling
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