PANews|Feb 08, 2026 10:21
[Eugene: $60,000 Bitcoin may act as support, survival takes priority in a bear market, strict stop-losses required for trading]
Trader Eugene reviewed last week's market situation and stated that, from a high time frame (HTF) market structure perspective, there are still significant issues with the current trend. Although $60,000 Bitcoin can still be considered reasonable support, he shared a lesson learned from the previous cycle: never go all-in on long positions without stop-loss protection.
Eugene pointed out that in a bull market, the trend often exceeds expectations in its intensity, while in a bear market, the declines are usually more severe than anticipated. He admitted that it is still unclear where the bottom of the bear market lies or whether Bitcoin has already bottomed out at $60,000, but emphasized that 'survival is always the top priority.' He advised traders to evaluate the risk of each operation individually and implement stop-loss strategies to guard against further market downturns.
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