Wednesday Morning Bitcoin Analysis

Last night's price action was very typical. During the day, repeated pulling and tugging consumed sentiment, and after US stocks opened lower, bearish sentiment ignited. Prices fell consistently, touching around 68,800 in the early morning, with bearish thesis playing out again. The market won't disappoint patience; get the rhythm right, and profits are just a matter of time.

From the current structure, price has returned above 70,000, but hasn't formed effective continuation. Whether for bulls or bears, there's a lack of decisive momentum to seal the deal. Overall, it's still oscillating repeatedly within the range. Since the trend is unclear, follow the range rhythm—don't guess direction, just wait for position.

Upper resistance around 71,500; lower support near 68,900. If the range holds, it will be difficult for the market to move unidirectional.

Early session: Still looking to set up short positions in batches in the 71,000-71,500 zone, targeting the 69,500-68,500 range.

If pullback lacks follow-through and stabilizes below, can reverse to short long positions and catch a range rebound.

$BTC ‌#Gate正式接入Polymarket