- Trading pair: BTC-USDT
- Time range: 2026-01-27 00:00:00 ~ 2026-02-06 08:00:00
- Data nature: Real-time
## Candlestick Pattern Deep Analysis
**[Jan 29-30] Around 90,585** - **Three Black Crows pattern** formed at the top - Strong bearish reversal signal - Strong signal
**[Feb 1-2] Around 78,000** - **Bullish engulfing pattern** appeared after downtrend - Temporary bullish reversal attempt - Moderate signal
**[Feb 2-3] Around 75,000** - **Evening Star pattern** formed - Bearish reversal confirmation - Strong signal
**[Feb 5-6] Around 59,809** - **Long-legged Doji** with significant lower shadow - Potential exhaustion of selling pressure - Moderate signal
**[Latest candlestick] At 62,437** - **Hammer-like pattern** forming with long lower shadow - Potential bullish reversal signal - Moderate signal
## Technical Indicator Analysis
**Moving Averages**: All three EMAs (EMA7: 66,603, EMA25: 72,827, EMA99: 81,619) are in descending order with price below all of them, confirming a strong downtrend. The widening gap between EMAs indicates accelerating downward momentum.
**MACD**: Deep negative territory (-1,092.9) with histogram bars expanding downward (DIF: -3,983.9, DEA: -2,890.9). No signs of bullish divergence yet, confirming strong bearish momentum.
**Volume**: Significant spike in selling volume during the recent sharp decline, with the highest volume bars appearing red, indicating strong selling pressure. The most recent volume bars show slightly higher buying interest but remain overwhelmingly bearish.
## Support and Resistance Levels Judgment
**Resistance Levels**:
- Short-term: 65,000 (recent consolidation area)
- Mid-term: 72,000 (previous support turned resistance)
- Major: 80,000 (psychological level and previous support zone)
**Support Levels**:
- Immediate: 59,800 (recent low)
- Short-term: 58,000 (psychological support)
- Major: 55,000 (potential next major support level)
## Comprehensive Technical Evaluation
The BTC-USDT pair is in a strong downtrend, having lost approximately 30% from its recent high around 90,585. The price action shows a series of lower highs and lower lows, with each recovery attempt being met with stronger selling pressure. The three EMAs are aligned in a bearish configuration, and the MACD remains deeply negative with no signs of reversal yet.
The recent bounce from 59,809 to current levels around 62,437 appears to be a technical rebound after an oversold condition, rather than a trend reversal. Volume patterns suggest distribution rather than accumulation, with selling volume consistently higher than buying volume.
## Conclusion
BTC-USDT is in a strong bearish trend with significant downside momentum. The recent hammer-like formation at 59,809 could signal a temporary bottom, but the overall technical structure remains bearish. For traders considering positions on BingX:
- Short-term traders might look for brief counter-trend bounces toward the 65,000 resistance level
- Risk-averse traders should wait for confirmation of trend reversal with price action above the EMA7 (66,603)
- Position sizing should be conservative given the high volatility (24h range: 59,809-73,309)
Risk warning: The current market shows extreme volatility with a 14.39% daily decline. Any positions should be accompanied by strict risk management strategies given the potential for continued downside movement.