Looking at the price action, short-term positive news may not last long, and the market will eventually return to its own rhythm. Yesterday, it surged strongly to 72,773, basically testing the price gap after the previous decline. The price has now reached the upper band resistance area. A bearish close today is not surprising, but this is the first decline after the rally. If a new high is made with a false breakout, it will be the best opportunity to short. That is, if the price rises again to above 73,000 and then falls below 72,770, it will be a perfect short signal. If it breaks through without retesting, it will continue higher. The bottom support is around 70,600. If it falls below this level today, it will directly turn into a weak sideways trend. If a small rebound occurs after testing this level, short-term buying can be considered.

In summary, the short-term rally is driven by news, but such a rally structure is usually not sustainable. The market remains in a large-range consolidation, with key resistance between 73,000 and 74,000. Watching for false breakouts in this zone can provide opportunities for medium-term shorts. If a breakout is confirmed and holds, it may fill the monthly line’s needle point. Short-term support is near 70,600; a break below this level will directly shift into a weak sideways trend. A rebound from this support indicates a secondary rally and short-term long positions. However, regardless of how the market develops or rallies, I still have a bias toward revisiting the previous low. I believe only by completely clearing the liquidity of the current long positions can a better bottom be formed for accumulation, paving the way for higher highs in the future. Otherwise, everything will seem less reasonable and rushed. $BTC