Bitcoin sideways trading overall remains above 72,000, fluctuating and consolidating. During the early session, the bulls briefly gained momentum, with the price once reaching around 73,295 to form a local high, but selling pressure gradually emerged above, and the market then entered a phase of oscillation and decline. As the battle between bulls and bears intensified, the price gradually broke below short-term moving averages and moved down to around 72,400 for consolidation. Currently, the market has experienced a downward move, with bears releasing energy, and the price dipped to around 71,740 before seeing a technical rebound at lower levels. From the overall daily structure, although there was a certain degree of pullback during the session, support below remains relatively clear, indicating that the bulls' defensive strength still exists. Such a trend often causes emotional instability—traders chasing longs get caught at high levels, and when prices pull back, they can't resist cutting losses. Conversely, those who patiently wait for the structure are more likely to catch the subsequent rhythm. Often, the difficulty in the market isn't the direction but maintaining composure amid oscillations and pullbacks.

　　From a technical perspective, Bitcoin is currently in a correction phase within an overall oscillating upward structure. On the 1-hour chart, after the price briefly broke below the middle band of the Bollinger Bands, it quickly found support near the lower band, forming a clear technical support zone around 71,200. This level is also a key defensive position for the short-term structure. On the 4-hour chart, the price remains within the medium-term ascending channel, with the middle Bollinger Band gradually moving up to around 72,000. If the price stabilizes above this area again, the bullish structure will be reinforced. Regarding indicators, the RSI, after a rapid decline to around 40, has started to turn upward, and momentum indicators are gradually recovering, indicating that bearish momentum is waning and bulls may gradually regain control. For structural support, focus on the 71,700–71,500 zone below, followed by the medium-term support around 71,200. On the upside, short-term resistance is in the 72,400–72,800 range. Once the price breaks above 72,800 and stabilizes, the upside space could open again. Overall, the current market trend is more of a technical correction within an upward trend, and the trading strategy remains to buy on dips, patiently waiting for key support zones to establish long positions, and following the bullish structure. #加密市场上涨