I'm not entirely convinced, but after all, the market is currently volatile, so I still think it's better to go short.

February 9, 2026, Bitcoin Analysis

Today, Bitcoin's midday trend was a "back-and-forth tug-of-war" around 70,000, with neither bulls nor bears gaining a clear advantage. The price hovered around 70,360, typical of a consolidation phase.

There are no major negative news, and in fact, there are several positives: the Fed's rate cut expectations remain, a weakening dollar is good for crypto assets; Bitcoin ETF capital inflows are stable, institutions are gradually increasing their positions, and with the halving approaching, there is long-term optimism.

From a technical perspective, the previous high of 72,300 is a key resistance level; breaking through it could open new space. The 70,000 level is the bottom line; a breakdown below that could trigger a significant correction. Currently, the moving averages are still upward, and any pullback is just a buildup, not a reversal.

The next trading advice is simple: don't chase highs. A pullback to around 70,000 can be used for light long positions with proper stop-losses; if it breaks through 72,300, add to your positions accordingly. There is no clear trend now, so it's more reliable to trade steadily rather than aggressively. Wait until the trend is clearer before taking action.

It is recommended to consider a pullback to around 69,800–69,000, with light positions, setting stops at 68,500, and targeting around 71,000–71,800.

The above is just personal advice and for reference only. It does not constitute investment advice. Please follow the specific layout of Cheng Jingsheng and Shi Pan for your trading decisions!!$XAU ‌#XAU