Technical Analysis

1. Daily Timeframe (Medium-term)
Convergence oscillation within a medium-term downtrend channel, with bulls and bears at an impasse between 69,000–71,000 USD.
Key Resistance: 71,000–72,000 USD (previous dense trapped position area).
Key Support: 68,000–69,000 USD (short-term bullish lifeline); strong support at 65,000 USD.
Moving Averages: MA7 provides support with a flat trend, MA14 (71k) forms resistance; long-term moving averages trending down, medium-term bearish logic unchanged.
Volume: Rally on declining volume, pullback with moderate volume increase, insufficient buying support, rally height limited.
2. Short Cycles (4-hour / Hourly)
4-hour chart gradually rebounding, hourly chart stabilizing after doji formation, short-term bias bullish.
RSI (14) around 58, neutral to slightly strong, not overbought.
MACD above zero line moving flat, bearish momentum weakening, bullish force accumulating.
IV. Daily Outlook & Key Price Levels
Core Assessment: Range-bound oscillation with bullish bias, focus on 71,500 USD breakout and 69,000 USD support.
Upper Resistance: 71,500 → 72,500 USD.
Lower Support: 69,500 → 68,500 USD.
Triggering Conditions:
Break above 71,500 USD with volume increase → Look toward 72,500–73,500 USD.
Break below 68,500 USD → Test strong support at 65,000 USD.