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February 5 Morning Market Analysis
The weak market trend continued in the early trading session. After the price broke below the key moving averages yesterday, the bears dominated the market and continued to push lower. All technical indicators are showing weakness, and trading volume has increased during the decline phase, with selling pressure continuously releasing; if the price cannot strongly recover the 2200 level in the short term, the downward trend will further continue, and the price will keep testing lower support levels.
Bitcoin
Resistance Range: 73,500-74,200
Downward Testing Target: 72,200-71,000
Ethereum
Resistance Range: 2,165-2,190
Downward Testing Target: 2,120-2,075#Cryptocurrency Market Overnight V-Shaped Fluctuation