Zhou Yanling: 2.4 Historic Plunge in the Crypto Market, Latest Analysis and Trading Strategies for Bitcoin BTC and ETH Today
As of today, February 4, 2026, Bitcoin has plummeted below $73,000, with a daily decline exceeding 3.5%. It has dropped nearly 8% from its intraday high, marking the lowest point since early November 2024. Since reaching an all-time high of $126,000 in early October last year, Bitcoin's price has now fallen by about 40%. The cumulative decline this year is close to 14%, and it has recorded four consecutive months of losses, the longest streak since 2018—when Bitcoin fell from $10,000 to $3,100. This wave can be considered another historical moment. Whether influenced by news or technical developments, the recent trend speaks for itself; going short is the right move, and any rebound is merely an opportunity for short sellers to enter. During such times, do not rush to catch the bottom, as it will only lead to faster losses.
Technical indicators are still the same. Bitcoin has recently formed a series of bearish candles on the daily chart, followed by a slight rebound, but it remains in a downtrend overall. On the hourly chart, it is currently consolidating in the range of $75,400 to $77,000, without breaking key resistance or support in the short term. The hourly MACD continues to operate below the zero line, with both DIF and DEA in negative territory, indicating a dominant bearish force; the daily MACD also shows a death cross, suggesting a weak long-term trend. The hourly RSI hovers around 50, with no clear overbought or oversold signals; the daily RSI is slightly below 50, reflecting cautious market sentiment. The hourly EMA7 and EMA30 are intertwined, indicating a stalemate in short-term direction; the daily EMA120 is far above the current price, with the long-term trend still dominated by bears. The trading strategy for today continues to focus on shorting during rebounds.
Zhou Yanling's 2.4 Bitcoin Trading Strategy:
Short at 77,200-76,400, with a stop loss above 78,000, targeting 74,500-73,700. If it breaks below 73,000, look for around 71,000.
Light long position at 73,500-74,300, with a stop loss below 72,700, targeting 75,200-76,000.
Zhou Yanling's 2.4 Ethereum Trading Strategy:
Short at 2,340-2,300, with a stop loss above 2,380, targeting 2,170-2,130. If it breaks below 2,100, look for around 2,000.
Light long position at 2,100-2,140, with a stop loss below 2,060, targeting 2,260-2,300.
【The above analysis and strategies are for reference only. Please bear the risks yourself. The article's review and publication may have delays, and the strategies may not be timely. Specific operations should follow Yanling's real-time strategies.】
This content is exclusively shared by senior analyst Zhou Yanling (WeChat public account: Zhou Yanling). The author has been engaged in market investment research in the crypto space for over ten years, currently focusing on analysis and guidance for BTC, ETH, DOT, DOGE, LTC, FIL, EOS, XRP, BCH, ETC, BSV, and other crypto contracts/spot operations. With a solid theoretical foundation and practical experience, the author excels in combining technical and news-based operations, emphasizing capital management and risk control. The trading style is steady and decisive, recognized by many investors for a friendly and responsible character combined with sharp and decisive operations.
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