$BTC 2026 February 2nd, Monday Market Analysis:

BTC weekly chart shows a large bearish candle, breaking through a key structure, confirming a strong bearish trend; the current price near 74000 is at a critical intersection of the Vegas channel and the M head and shoulders neckline. If it holds, a technical rebound is possible; if it fails, the descending flag pattern will continue, targeting around 63000-64000; on the daily chart, after breaking below the previous low of 81000, it accelerated downward. The current price is oscillating at the previous low from April 25, which is a key point for short-term bullish and bearish battles. If it holds, a technical rebound is possible to fill the gap of the 81000 drop; if it breaks, the M head's downward target is around 64000; MACD and RSI bearish momentum is still present, but the RSI is oversold and needs to recover downwards; pay attention to the 4-hour level for short-term opportunities;

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$ETH ETH weekly chart shows a large bearish candle mirroring BTC's volume increase, the downward trend remains unchanged; the current price is around the weekly previous low of 2200. If it holds, a rebound to test the 2460 descending trend line pressure is expected; if it breaks below 2200, it will accelerate downward, with the target around 1850; the daily chart shows a downward rectangular structure, the trend is bearish, but the RSI is oversold, indicating a need for a rebound, though not a reversal unless the descending trend line is broken, which would provide conditions for a reversal; on the 4-hour chart, RSI is oversold and diverging, requiring observation for a bottoming formation before considering short-term long positions; mid-term can observe shorting opportunities after a rebound.