Early morning market experienced a rapid dip, with Bitcoin falling to around 70,700 before stopping. Subsequently, the price stabilized and rebounded, regaining the level above 71,000. This dip did not trigger further panic selling but was quickly recovered, and the overall trend is consistent with my bullish outlook from early morning.

The 70,700 level was validated as an effective short-term support in the early hours. After touching this level, the price quickly rebounded, indicating strong buying interest below. Currently, a sign of a bottoming and upward reversal has appeared on the hourly chart. As long as it does not fall below 70,700 again in the morning, the short-term structure remains bullish. Once the price stabilizes above 71,000, bullish momentum is somewhat restored, and there are conditions for further upward movement.

In terms of strategy, continue to adopt a pullback buying approach, using the early morning low of 70,700 as a stop-loss level. As long as this level is not broken, consider entering long positions near 71,000, targeting the 71,500-72,000 region. If it unexpectedly breaks below 70,700, a reassessment of the short-term trend is necessary.