In the early morning, the big coin broke below the 70000 level and touched a low near 69500, but failed to form an effective breakdown. Instead, it reversed in a U-shape and quickly pulled back to the 70500 area. This long lower-wick structure at the hourly level is a typical false-breakout signal—bearish traders attempted a breakdown but couldn't hold the gains; instead, they were pushed back by bulls. This indicates there is strong buying support near 69500, and the 70000 level has shifted from its previous resistance role to becoming a short-term support.

From a technical indicators perspective, the hourly MACD formed a bullish crossover below the zero line and has continued with increasing volume. The fast line has crossed above the zero axis, indicating that the rebound momentum is still continuing. The RSI has rebounded from the oversold zone to a neutral-to-strong position around 50, not yet entering the overbought zone, suggesting there is still room for upside movement in the short term. On the moving average system, price has returned above MA7 and MA14, and is attempting to challenge MA30. If it can hold steady above 70500 intraday and push MA7 above MA14 to form a bullish crossover, the short-term uptrend structure will be further consolidated.

Overall, the early morning bounce from the bottom is an effective validation of the key support level. Since the 70000 level has been reclaimed, the short-term strategy should focus on buying on dips. Key attention should be placed on pullback confirmation opportunities in the 70200-70300 zone, with resistance first around the 70800-71000 area. If it can close above 71000 with volume, this rebound from 69500 is expected to continue to higher levels. #Gate13周年全球庆典 $BTC