Wednesday🗓️ "February 4th"

Spring has arrived, and all things are coming back to life, but the crypto market remains cold...
Yesterday, driven by sharp declines in artificial intelligence, software stocks, and private equity, U.S. stock indices fell, and the sell-off in the cryptocurrency market intensified. The significant drop in the U.S. stock market further propagated to the crypto sector. Matt Hougan from Bitwise bluntly stated: "This is not just a simple correction, but a comprehensive crypto winter."

Technical Analysis:
Bitcoin (BTC): The hourly Bollinger Bands continue to trend downward, with moving averages in a bearish alignment. The MACD has a death cross and is expanding, indicating that the bears still dominate. In the short term, the market remains bearish. If the rebound cannot hold steady in the 76,000-77,000 range, a downward continuation pattern may form. Short-term resistance is at 78,000-79,500.
$BTC
🎯Bitcoin BTC 76,500-77,000 short position, target 74,500-73,500. After breaking below, watch for 73,000-72,000.

Ethereum (ETH): The hourly chart shows that after five consecutive days of decline, the price has rebounded with a bullish candle, but the rebound strength is limited. The RSI has moved out of the oversold zone and turned upward, but it has not reached overbought levels. The rebound space is limited, and the technical outlook remains weak. If it cannot hold above 2,300 with increased volume, it may decline again. Ethereum's trend is slightly stronger, with resistance at 2,350-2,450.
$ETH
🎯Ethereum ETH 2,250-2,300 short, target 2,200-2,150. After breaking below, watch for 2,100-2,050.

Despite the large previous declines and the market's need for technical correction, it is expected to remain volatile and range-bound in the short term. Bitcoin🫓 will oscillate around 73,000-77,000, and Ethereum around 2,100-2,300, with ongoing long-short battles. It is recommended to set strict stop-losses and adopt a light position to cope with the current intense market fluctuations.

For specific real-time quotes and precise levels, please refer to Ziqing's live trading tips.