Yesterday morning, BTC pulled back to the 68840 level and quickly stabilized. Bulls demonstrated strong defensive intentions at this position, followed by a V-shaped reversal structure. BTC has re-established itself above 70000, currently consolidating around 70400.

From a technical perspective, after the support at 68840 was confirmed effective, K-lines have consecutively printed solid bullish candles. Short-cycle moving averages have turned upward, indicating that bullish momentum is gradually taking control. On the hourly timeframe, price is steadily rising supported by MA5, with each pullback low moving higher, forming a typical oscillating uptrend pattern. The MACD fast and slow lines crossed above the zero line with increasing volume, and the bullish energy histogram continues to expand, suggesting the rebound has not yet shown signs of exhaustion.

Upside resistance to watch is the 70800-71000 zone. If price breaks decisively above this area with volume expansion, rebound space could open up further. Downside support has moved up to the 70000-69800 level. As long as this zone holds, the short-term strong structure remains intact. For operations, it is more prudent to focus on dip-buying rebounds. The current setup does not warrant early attempts to chase the top.#Gate正式接入Polymarket $BTC