Thursday Morning Bitcoin Market Outlook

The current market remains primarily in a consolidation phase. Last night, the bulls attempted a rebound, but the momentum was clearly insufficient. After bouncing to the 71,300 level, the price quickly faced resistance and pulled back, indicating that selling pressure above still exists. In the short term, the price continues to fluctuate within the range.
From the four-hour chart perspective, the price temporarily broke through the upper Bollinger Band earlier but failed to establish a sustained move. It then quickly retreated. Currently, the market finds temporary support near the middle band, but the rebound momentum has noticeably weakened. Short-term resistance is mainly concentrated in the 71,500—72,000 range. As long as the price cannot effectively stabilize above this zone, the overall strategy remains focused on shorting the rebound and buying the dips during pullbacks.
Morning Trading Strategy
Consider short positions above 70,500 during rebounds,
Pay close attention to support levels at 69,000—68,000. If the price pulls back without a sustained breakdown, look for short-term reversal buy opportunities.
Overall, the market is still in a range-bound phase. Traders should avoid chasing highs or panic selling and patiently wait for key levels to enter positions.