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
It is a part of every business that you to get yourself mentally prepared for any kind of loss in whatever you have invested. This thing should not be dealt as a fear but something to be faced with courage and to minimize it, adopt the policies that can help you get more and more benefit from whatever you have invested.
Just believe in yourself that the things are going to work for you , and apart from this believe make sure you all the necessary knowledge which can help you get maximum benefit from bitcoin.