On February 7th at 11:00 (UTC+8), BTC's current price is approximately $70,000. After a deep V-shaped rebound in the past 24 hours, the lowest was $60,008 and the highest was $71,751, representing a rebound of over 19%, which is a typical oversold correction. The medium-term trend remains unchanged.

1. Core Technical Analysis (4-hour / Daily Chart)

- Pattern: Daily long lower shadow deep V, 4-hour rebound correction, weekly chart still in a downtrend channel, medium-term trend unchanged.
- Moving Averages: The 24-hour MA around $68,000 marks the short-term bullish/bearish boundary; the MA5/MA10 on the daily chart have a death cross, with clear resistance above at MA20/MA30.
- Indicators: RSI(14) has recovered from oversold levels to around 48; 4-hour MACD shows diminishing bearish momentum with the dual lines turning; volume increased during the rebound, but watch for a decrease in volume leading to a pullback.
- Key Price Levels: Strong support at $64,000 (today’s rebound starting point); a break below invalidates the rebound. First resistance at $68,000 (24-hour MA); second resistance at $71,750 (today’s high, a breakout would strengthen momentum).

2. Actionable Strategies

- Long Positions: Hold above $68,000 with volume increase and positive funding rate, try a small position (≤30%), with a stop-loss at $63,500; if it breaks above $71,750 with volume, add to 50%, target $73,000.
- Short Positions: Encounter resistance and volume shrinks during the rebound to $70,500–$71,750, try a small short position, with a stop-loss at $72,500, target $68,000.
- Wait-and-See: If it breaks below $64,000 with liquidation and then rebounds, but volume diminishes, reduce positions or stay on the sidelines to avoid the risk of rebound failure.

3. Risks and Key Signals

- Risks: Recent high liquidation across the network in the past 24 hours, institutional deleveraging may cause secondary selling pressure; medium-term trend remains unchanged.
- Confirmation Signals: ETF net inflow exceeds $100 million, liquidation continues to decrease, USDT premium >0.3%, combined with volume support at resistance levels, increasing confidence in a bullish move.

Conclusion: In the short term, this is an oversold rebound and correction after leverage unwinding, not a trend reversal. Trading should focus on key levels, volume, and funding conditions, with strict position control and stop-losses. Prioritize quick in-and-out trades, while waiting for weekly chart stabilization signals in the medium term.