Bitcoin has rebounded strongly on the news of a temporary ceasefire between the Iran and the US; it is currently holding and trading around the 71,000 area. The current market is showing a pattern of “pushing higher and then consolidating and pulling back, with a wide-range back-and-forth struggle.”

From a technical perspective, on the 4-hour timeframe the MACD remains weak and shrinking above the 0 axis, with the fast and slow lines first narrowing toward a key turning point. The KDJ lines are close to 10, indicating oversold conditions. The RSI’s three lines are beginning to turn upward.
In the short term, Bitcoin should show signs of an upswing. The heavy resistance zone is 720-73000 above; if it holds above 72000, it may attempt 73000.
Reference recommendation:
If the 70,000 level is not broken, focus on going long on dips, with a target of 73000
If the advance toward 73000 lacks momentum, use higher-level short setups as the secondary approach, and look down toward 69500$BTC
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