February 27 Bitcoin Daily Report#当前行情抄底还是观望？

Affected by the pullback in the US stock market triggered by Nvidia's earnings report, mainstream traders are continuing to reduce risk exposure in sync with the equity markets. Bitcoin has been trading within a narrow range on Friday, with a rally towards $70,000 on Wednesday forming the upper boundary of the range.

The current price structure is driven by macroeconomic uncertainty. To put it differently: what you are seeing now is Bitcoin following the broader risk asset markets. Earlier this week, it broke below the key support level of $65,000. From the current perspective, this round of selling pressure appears more like a leverage liquidation rather than a rapid structural breakdown, implying that when the price retraces, buy orders quietly return. However, it’s important to note that this rebound is not a trend reversal. When US stock momentum stalls, cryptocurrencies are often the first to de-risk, leading to quick withdrawals of speculative funds. Additionally, due to overall tight liquidity, volatility has also increased.

On the technical side, the ST indicator at $66,000 and the S-AR indicator at $65,550 are both within the range. Therefore, during this quick rebound, the price remains above both indicators, confirming short-term bullish dominance. If the closing price falls below these levels, invalidating the recovery, it could create double resistance, potentially triggering panic selling and gradually approaching the 200-week moving average at $58,500.