Tuesday Afternoon Bitcoin Analysis

Although the choppy market is grinding, the overall pace remains within expectations. The price pulled back to around 70,000 at midday, and the 71,000 short position suggested this morning successfully played out, though unfortunately didn't continue. Currently, price is consolidating around 60,800 after a rebound.

From a technical perspective, the four-hour level failed to sustain its rally after pushing higher, with bulls losing momentum, followed by consecutive declines. The short-term rebound has essentially concluded. The hourly Bollinger Bands are beginning to narrow, with price pushing higher then falling back below the middle band, combining with indicator convergence pointing downward—short-term momentum is clearly weakening.

In the absence of a trending market currently, the upside has already released potential, making chasing longs less cost-effective. Following the trend with high shorts remains the main theme.

Watch the 71,500-72,000 zone above for resistance. If not broken, continue shorting. Aggressive traders can enter in batches around 71,000.

Downside targets remain the 69,000-68,000 zone.
$BTC ‌#成长值抽奖赢金条