Morning Analysis of Bitcoin

From the chart perspective, Bitcoin bottomed out at 68,868 in the early morning and has stabilized into a rebound. Currently, it's oscillating and consolidating in the 70,000-70,500 range. Short-term moving averages are turning upward, with prices gradually recovering from oversold levels, and bearish momentum has been somewhat released.

From a technical standpoint, 69,000 is a strong support zone, and yesterday's low of 68,868 is the key defensive level for this downturn—holding it would extend the rebound. Resistance above is concentrated at 70,500-71,000, which requires a volume breakout to open upside space. Indicators show price has returned above the Bollinger Band midline, with KD crossing upward. Short-term rebound momentum remains, but 71,000-71,500 still presents strong overhead resistance. Avoid blindly chasing highs.

From a sentiment and macro perspective, bottom-fishing capital has entered following the oversold move, and market sentiment has warmed somewhat. However, Fed policy expectations continue to suppress risk appetite, with fund operations remaining cautious. Morning focus: monitor volume—if volume holds steady above 70,500, the rebound is expected to extend toward 71,000 and above; if volume contracts and pressure at 70,500 intensifies, the rebound may end here, with caution toward retest of 69,500-69,000.

Trading suggestions: Short at 71,000-71,500 rebound. Target: after 69,000 breaks down, watch for 68,500→67,800.