This morning's downward momentum was indeed strong, directly breaking through the short-term support at the 72,000 level. The current price is consolidating around 70,400, essentially hovering at the edge of support. If the 70,300 level is effectively broken, the intraday short-term trend will completely shift to weakness, opening up downside space. Further exploration toward the 70,000 mark or even lower is just a matter of time.

From a technical standpoint, as long as the price fails to quickly recover the 71,300-71,500 zone, any intraday minor bounce will be viewed as a bear trap signal. Combining the 4-hour MACD indicator, the histogram (bearish momentum) continues to expand significantly, with no signs of bullish divergence or contraction whatsoever. This indicates that short-term correction sentiment is still in the process of being released.

Since 70,300 has become a critical pivot point, going short with the trend remains the more prudent choice before the price recovers to 72,000. Betting on oversold bounces by the bulls at this moment is clearly irrational, as the cost of catching falling knives far exceeds that of following the trend. #Gate13周年全球庆典 $BTC