Trader Eugene: $60,000 still serves as a relatively solid support level for Bitcoin, but it is not certain whether the bottom has been reached.

BlockBeats News, February 8th, Trader Eugene Ng Ah Sio posted on his personal channel, stating, "Taking a step back to look at what has happened in the past week, from the perspective of the high-timeframe (HTF) market structure, it is clear that the market has run into issues.

Although $60,000 is still a relatively reasonable support level, one thing I learned from the last cycle is: do not go all-in with aggressive long positions without a point of invalidation. In a bull market, the market tends to be even more insane than you expect; and in a bear market, things always seem to be worse than you think.

I do not know where the bottom of this bear market is, nor am I sure if we have bottomed at $60,000, but survival always remains the most important. Treat each trading opportunity as an independent decision, set stop losses to prevent the market from deteriorating further than it is now."