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Currently around 69,800 for Bitcoin, it is in a high-level consolidation phase. However, the overall trend remains bullish, with the price staying above the middle band of the Bollinger Bands, showing no signs of a breakdown. The key support level is near the middle band at 68,500. As long as it does not break below this level effectively, the bullish trend will remain intact. The strong resistance level is near the upper band at 71,500, which coincides with previous highs and serves as the main obstacle for a short-term rebound.
Recommendation: Short at around 70,600 if a volume-increasing bearish candle appears, with a stop loss at 71,800. The initial target is 69,000, then 68,500.