The rebound and pullback in the early morning did not break the bullish structure. The morning market can be viewed as a normal consolidation after a breakout. Currently, the $70,000 level has shifted from a psychological pressure point to a key support foundation. As long as the price remains stable above this level, the short-term fluctuations are meant to shake out unstable positions rather than indicate a trend reversal. On the 4-hour chart, the moving average system still maintains a bullish alignment, and the $69,000-$69,500 region below forms a solid defensive zone, providing strong technical buy support for the price.

From the rhythm of indicator movements, the sideways consolidation in the early morning is actually a correction of the previously overheated short-term indicators. As leading indicators like KDJ retreat from high levels to reasonable zones, this actually leaves ample technical space for subsequent upward movement. The daily MACD remains in an accumulation phase, indicating that the medium-term bullish logic has not changed. Once the indicators complete their correction and resonate, the bulls are likely to regain control.

Overall, as long as the $70,000 level can withstand the test in the morning, the market, after a brief pause to gather strength, still has a chance for a second rally. The current market logic favors a shakeout that trades time for space rather than a quick rise to sell off. The upside targets can still focus on the $71,800-$72,000 range or even higher, around $74,000. #Gate蓝龙虾重磅上线 $BTC