Yesterday morning, Bitcoin pulled back to the 68840 level and quickly stabilized. Bulls demonstrated strong defensive intentions at this position, followed by a V-shaped reversal structure. The price has re-established itself above 70000, currently consolidating near 70400.

From a technical perspective, after confirming that the 68840 support level is effective, the K-line has consecutively printed solid bullish candles. Short-term moving averages have turned upward, indicating that bullish momentum is gradually taking the lead. On the hourly timeframe, the price is steadily rising based on the MA5, with pullback lows continuously rising, showing a typical oscillating uptrend pattern. After the MACD fast and slow lines crossed above the zero line, volume increased and the uptrend continued. The bullish histogram bars keep expanding, suggesting the rebound has not yet shown signs of exhaustion.

Key resistance to watch on the upside is the 70800-71000 zone. If the price can break through this area on increased volume, the rebound space is expected to open up again. Support below has shifted to the 70000-69800 level. As long as this zone holds, the short-term bullish structure remains intact. In terms of trading strategy, it is more prudent to focus on buying on pullbacks. The current market conditions do not warrant early attempts to catch the top. #Gate正式接入Polymarket $BTC