The morning Bitcoin price surged up to around 71,300 before facing resistance and pulling back, then broke below the 70,800 support level, further declining to around 70,300. Our long position set at 70,500 in the morning was successfully closed at 71,300. The market has started to decline, and currently the price is trading around 70,400.

The current dip has not broken the overall oscillating upward structure; instead, it can be seen as a "second bottom" behavior by the main force before a breakout. The area around 70,300, as the upper boundary of a previous high-volume trading zone, has clear technical support significance. After touching this area, signs of stabilization have appeared. This type of rebound after a rally is usually to clear out late buyers and accumulate upward momentum. As long as the price can hold above 70,300, a short-term correction still has the potential to resume its upward trend.

Focus on the effectiveness of the 70,000 support below. As long as this level is not effectively broken, the bullish outlook on dips can be maintained. The short-term resistance level above is first seen at 70,800. Breaking this level could lead to a renewed focus on 71,300 and higher regions. For short-term trading, use 70,000 as a defensive position, look for stabilization signals, and gradually build positions. #GateforAI重磅上线 $BTC