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.
Probably, the recent fall on bitcoin's value is a result of multiple corrections from the previous price hike last year. Add up some negative speculations from different sources. But all of this are just hypothesis, Bitcoin's price is constantly moving up and down ever since. It even fall lower than what it is right now previously in the middle of last year. So, all of this recent fall are just normal. Expect for a stronger value sooner or later.