On February 7th at 11:00 (UTC+8), ETH is approximately $2,060, with a deep V-shaped rebound over the past 24 hours, ranging from a low of $1,773 to a high of $2,094, representing about a 16% rebound, indicating an oversold correction. The medium-term trend remains unchanged.

1. Core Technical Analysis (4-hour / Daily Chart)

- Pattern: Daily long lower shadow deep V, 4-hour rebound correction, weekly chart still in a downtrend channel, medium-term trend unchanged.
- Moving Averages: 24-hour MA around $1,980 as the short-term bullish/bearish dividing line; Daily MA5/MA10 death cross, with clear resistance from MA20/MA30 above.
- Indicators: RSI(14) has recovered from oversold levels to around 45; 4-hour MACD bearish momentum waning, dual lines turning; rebound volume increasing, watch for volume shrinking and pullback.
- Key Levels: Strong support at $1,800 (today’s low area), a break below invalidates the rebound; first resistance at $2,000 (24-hour MA + dense trading zone), second resistance at $2,090 (today’s high, breakout turns stronger).

2. Actionable Strategies

- Long Positions: Hold above $2,000 with volume increase, funding rate turning positive, try a small position (≤30%), stop loss at $1,790; break above $2,090 with volume, add to 50%, target $2,180.
- Short Positions: Encounter resistance and volume shrinks at $2,070–$2,090, try a small short, stop loss at $2,110, target $2,000.
- Wait-and-See: Break below $1,800 with liquidation and rebound, volume shrinking, reduce positions or wait, avoid risks of failed rebound.

3. Risks and Key Signals

- Risks: High liquidation in the past 24 hours across the network, institutions deleveraging may cause secondary selling pressure, medium-term trend remains unchanged.
- Confirmation Signals: ETF net inflow exceeding $80 million, liquidation events decreasing, USDT premium >0.3%, combined with volume increase and stabilization at resistance levels, strengthening bullish confidence.

Conclusion: In the short term, this is an oversold rebound and correction after leverage liquidation, not a trend reversal. Trading should focus on key levels, volume, and funding conditions, with strict position control and stop-losses. Prioritize quick in-and-out trades, and wait for weekly chart stabilization signals in the medium term.