From midnight until now, Bitcoin has been repeatedly consolidating within a high-range zone. The early session saw a gradual rise above 71,000, with the highest touch near 71,934. Short-term buying momentum was relatively strong, but as it approached higher levels, support began to weaken. The rally failed to break out with increased volume, followed by a noticeable pullback, with the price quickly falling below 71,100. Although there were several rebounds and corrections in the middle, each attempt to retake the previous high failed, indicating that selling pressure around 71,900 to 72,000 still exists. Currently, the market is consolidating above 71,000. It’s clear that the overnight surge was mainly a range-bound fluctuation and did not truly open up new upward space. During sideways phases, it’s easy to misjudge the trend because the apparent oscillations often mask the true rhythm. In such times, it’s more important to focus on the structure rather than emotions.

Looking at the current market, the 1-hour chart shows a series of declines after the recent high, with the peak gradually moving lower. The short-term rebound has not yet surpassed 71,500, indicating ongoing resistance above. The 4-hour chart shows that after an earlier attempt to push higher, the price entered a high-level consolidation zone. The 71,900 to 72,100 area remains a strong resistance zone. Without a new volume breakout, the upward potential is temporarily limited. On the downside, around 70,500 is the immediate support, with a more critical structural support near 70,000. If the price breaks below this level, further declines to test deeper support levels are possible. Overall, the rebound momentum is insufficient, and the structure suggests a continuation of high-level consolidation followed by a pullback. Therefore, the trading strategy remains to sell on rebounds, waiting for the price to retrace to the 71,400 to 71,600 zone for a more secure entry. The initial target is 70,500, with further support below near 70,000. #Gate广场四月发帖挑战 $BTC