BTC Marketcap / Bitcoin
BTC Daily analysis 02 February 2026. Bitcoin remains in a bearish market state, but short-term price action shows an early attempt at relief after a strong sell sequence, keeping traders focused on nearby support resistance and the next liquidity objectives.
- The price made a clear sweep of all the trend line liquidity that has been build up.
- At this moment the price has printed a first bullish candle after a series of bearish candles. We can use our fib retracement tool and if the relief happens, we can see the confluence between the first structure and the fib 0.786, indicating this as a potential relief target.
- Eventhough we might see some bullish activity, it remains a counter trend move, as the predominant trend is still bearish.
- It is in the details : price landed with the recent bearish impulse @ $74.604,00. But this still did not hit the $74.508,00 3 monthly swing low. We expect at least this level to be taken out after a potential relief.
Market Structure Analysis
From a naked trading perspective, the trend line liquidity sweep is the key structural event: price runs stops clustered around the trend line and then reacts, often creating the conditions for a corrective bounce. The first bullish candle after a series of bearish candles signals that sellers are losing immediate control, but our BTC daily analysis still treats this as a counter-trend correction until market structure proves otherwise. The Fibonacci retracement context matters here because the 0.786 confluence with the “first structure” frames a logical relief zone where price can retest prior supply before resuming the bearish impulse. Importantly, the recent bearish leg landing near $74.604,00 while leaving the $74.508,00 3 monthly swing low untouched keeps downside liquidity active and structurally relevant.
Key Levels and Scenarios
In this BTC daily analysis, the bearish baseline remains intact unless price starts reclaiming key structure with acceptance. A bullish relief scenario is a corrective push into the first structure / Fibonacci 0.786 confluence, followed by rejection signals. The bearish continuation scenario is a relief failing under structure and price rotating back down to take the remaining liquidity at the 3 monthly swing low.
- Fibonacci 0.786 confluence with the first structure as the potential relief target zone
- $74.604,00 as the recent bearish impulse landing point and near-term reference level
- $74.508,00 3 monthly swing low as the key liquidity level still expected to be taken
- Trend line liquidity sweep area as the prior stop-run zone to monitor for retests
Trading Implications
Given the bearish trend, any upside is treated as corrective until a clear break of structure develops. Aggressive participants may focus on short-lived relief and rejection behavior at confluence, while conservative participants typically wait for confirmation around support resistance and follow-through toward the liquidity objective.
This analysis is for informational purposes only and does not constitute financial advice.