Eugene: Bitcoin may find support at $60,000; survival is paramount in a bear market; strict stop-loss orders are essential.

According to ME News, on February 8th (UTC+8), trader Eugene reviewed last week's market situation, stating that from a high-timeframe (HTF) market structure perspective, significant issues remain. While $60,000 for Bitcoin can still be considered reasonable support, he stated that the lesson learned from the previous cycle is: never blindly go cross margin-in on long positions without stop-loss protection. Eugene pointed out that in bull markets, price movements are often more volatile than expected, while in bear markets, declines are always more severe than anticipated. He acknowledged that it's currently unclear where the bear market bottom is, or whether Bitcoin has bottomed out at $60,000, but emphasized that "survival is always the top priority." He advised traders to assess the risk of each operation individually and implement stop-loss strategies to prevent further downside risks. (Source: ME)