Sometimes Bitcoin cannot be explained using technical analysis. IMO, there are too many fuds recently. Another reason is due to the Chinese New Year in mid Feb, I guess many Chinese will cash out during this period.
Chinese new year could be one of the sense reason of this fall and also you are right, sometime technical analysis is not working in cryptocurrency because only news which is working better than.
But I am confident that Bitcoin will recover later on.
I give applause for your confident. The price of altcoin will not this deep when everybody confident like this.
Confident and hold our coin is necesarry thing right now. No need panic right now.