JUST IN: Bitcoin dips briefly this morning, touching $70,500. If sustained, this could test near-term support and invite renewed liquidity-driven moves. $BTC 🚨

JUST IN: $BTC OG Insider Whale notes a narrative on oil price influence and signals Gulf Region’s actual transaction price near $155. If linked flows validate, sentiment shift could spark renewed discussion on macro drivers for BTC. $BTC

On Thursday early morning, Bitcoin and Ethereum continued the downward trend from the previous evening, forming a persistent bottom-testing pattern. Bitcoin dipped as low as 70,456 points, then rebounded slightly before declining again; Ethereum also weakened in sync, falling from the 2,219 high point down to the 2,150 low. At midnight, Hao Ge provided early insights on shorting after a rebound, and the market played out as expected. He successfully guided students to enter Bitcoin short positions at 71,824, and take profits at 70,941, securing a steady 900-point gain. From a daily chart perspective, the previous eight consecutive bullish days have shifted into a two-day bearish retracement. The current decline has partially recovered previous gains, but the market has yet to show clear signs of a bullish-bearish reversal. The daily Ichimoku mid-line coincides with the support level at $70,000, which is a critical dividing line between bulls and bears that warrants close attention. Regarding indicators, the KDJ has crossed downward and continues to extend, with bearish volume steadily increasing during the bottoming process. Turning to the hourly chart, after a strong five-day decline, the price entered a consolidation and recovery phase. However, the short-term sideways movement has not altered the pattern of the Bollinger Bands’ three lines continuing to open downward, with bearish momentum still dominating the market trend. Based on the current market structure, the strategy for Thursday morning remains to short after rebounds. Bitcoin can be shorted around 72,000, with the initial target at the $70,000 support level; Ethereum should look for shorting opportunities near 2,230, with targets down toward the 2,100 region. Operationally, close attention must be paid to the $70,000 level. If the daily mid-line support is effectively broken, the bearish space is likely to further expand.