last night's Bitcoin price movement demonstrated extremely strong independence and resilience. Despite the three major US stock indices opening sharply lower and macro sentiment being bearish, the coin price only briefly surged above $70,000 before pulling back slightly to $69,300, then quickly stabilized and launched a stronger second wave of attacks, standing firm above the $70,000 mark again. Under the pressure test of the US stock market's sharp opening decline, the coin price not only failed to break through the key support level from this morning, but instead formed a higher low at $69,300, which strengthened the bottom support structure in the $69,000-$69,300 range, proving that this area has become a solid defensive line for the bulls.
From a technical perspective, after last night's surge, pullback, and rally, the $70,000 level has undergone multiple tests, transforming from an initial resistance level to the current dividing line between bulls and bears, with strengthening support effectiveness. Currently the price is trading around $70,200, above all short-term moving average systems, with hourly moving averages in bullish alignment. After completing repairs above the zero axis, the MACD fast and slow lines formed a golden cross again, with red momentum bars moderately expanding, and the RSI indicator in the strong zone of 60-70, leaving ample room for further upside attacks.
Operationally, given that last night's pullback confirmed the validity of downside support, and the price successfully held above the $70,000 level, the short-term bullish trend is maintained. Below, pay attention to the $70,000-$69,800 top-bottom conversion zone as the first support level. As long as the price trades above this range, a bullish bias can be maintained, long positions can continue to be held or entered on dips, with upside targets first targeting the $70,800-$71,000 short-term resistance zone. #Gate广场AI测评官 $BTC
last night's Bitcoin price movement demonstrated extremely strong independence and resilience. Despite the three major US stock indices opening sharply lower and macro sentiment being bearish, the coin price only briefly surged above $70,000 before pulling back slightly to $69,300, then quickly stabilized and launched a stronger second wave of attacks, standing firm above the $70,000 mark again. Under the pressure test of the US stock market's sharp opening decline, the coin price not only failed to break through the key support level from this morning, but instead formed a higher low at $69,300, which strengthened the bottom support structure in the $69,000-$69,300 range, proving that this area has become a solid defensive line for the bulls.
From a technical perspective, after last night's surge, pullback, and rally, the $70,000 level has undergone multiple tests, transforming from an initial resistance level to the current dividing line between bulls and bears, with strengthening support effectiveness. Currently the price is trading around $70,200, above all short-term moving average systems, with hourly moving averages in bullish alignment. After completing repairs above the zero axis, the MACD fast and slow lines formed a golden cross again, with red momentum bars moderately expanding, and the RSI indicator in the strong zone of 60-70, leaving ample room for further upside attacks.
Operationally, given that last night's pullback confirmed the validity of downside support, and the price successfully held above the $70,000 level, the short-term bullish trend is maintained. Below, pay attention to the $70,000-$69,800 top-bottom conversion zone as the first support level. As long as the price trades above this range, a bullish bias can be maintained, long positions can continue to be held or entered on dips, with upside targets first targeting the $70,800-$71,000 short-term resistance zone. #Gate广场AI测评官 $BTC