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.
But I am confident that Bitcoin will recover later on.
fuds making this market panicking,those weak handed users helping those trolls to make this dump possible,forcing many holder to sell their coins in lower price because afraid of big losses.but if we will continue pushing the trustees to hold and remain supporters of bitcoin.eventually the market flows will stabilize and return to normal again