Technical analysis by Ron-Austen about Symbol BTC: Sell recommendation (2/7/2025)

As of now, the price of Bitcoin (BTC) is about $97,366, down about 1.26% from the previous trading day. The intraday high reached $99,167 and the low fell to $95,761.Operational suggestions:In view of the current market conditions, investors are advised to remain cautious and pay close attention to the following key support and resistance levels:• Support level: $92,000 and $87,000• Resistance level: $106,000Analysis basis:The recent Bitcoin market has been affected by multiple factors:1. Macroeconomic factors: The United States has imposed tariffs on imported goods from many countries, which has caused market concerns about inflation, which may limit the Fed's room for interest rate cuts, and thus exert downward pressure on non-interest-bearing assets such as Bitcoin.2. Market sentiment: Bitcoin prices have fallen several times recently, reaching $91,100 on February 3, with a daily decline of about 7%, resulting in pessimistic market sentiment.3. Technical analysis: Technical indicators show that Bitcoin may further drop to $80,000, and investors should be alert to potential downside risks.Bitcoin operation suggestions today: Be cautious in the short term, and buy on dips in the medium and long term1. Analysis of current market conditions:• Technical aspect: Bitcoin is still fluctuating at a high level in the short term, and has not effectively broken through key resistance (such as $100,000), while the support below (such as $95,000) still needs to be tested. Once it falls below, it may trigger a larger level of correction.• Emotional aspect: The market has fluctuated greatly recently, and some investors have taken profits at high levels, but panic selling has not been seen yet. Mainstream funds still tend to buy on dips.• Macro aspect: Fed policies, global economic uncertainty, and ETF fund inflows have limited short-term impacts, but they are still supporting factors in the long term.2. Operation strategy:• Short-term trading: If the price does not break through the range of US$98,000-100,000, consider shorting with a light position near US$97,500, with a stop loss set above US$100,500; if it falls below US$95,000, observe the support strength of US$92,000 and wait for a rebound signal.• Medium- and long-term layout: The current pullback may provide a buying opportunity on dips, pay attention to the US$90,000-92,000 area, and if the price stabilizes, you can open positions in batches, but strictly control the position.• Risk management: Control leverage and strictly implement stop losses. If market sentiment turns bearish, the possibility of falling to US$85,000 or even US$80,000 cannot be ruled out.3. Conclusion: Be cautious about short-term trends, pay attention to key support areas, and layout on dips in the medium and long term.