Currently, Bitcoin will complete its directional choice between 70500-72500. If it holds support around 70500, breaking through and establishing a firm position at 72500 will continue the short-squeeze momentum, attacking the 60-day moving average at the daily level, which is currently around 77000. If it fails to stabilize at 72500 and this level becomes a bottom, the market will be weak and enter a deep pullback, gradually testing key support levels at 69000, or even potentially dropping all the way to around 65900 in one move.
Currently, Bitcoin will complete its directional choice between 70500-72500. If it holds support around 70500, breaking through and establishing a firm position at 72500 will continue the short-squeeze momentum, attacking the 60-day moving average at the daily level, which is currently around 77000. If it fails to stabilize at 72500 and this level becomes a bottom, the market will be weak and enter a deep pullback, gradually testing key support levels at 69000, or even potentially dropping all the way to around 65900 in one move.