In the afternoon, the big picture stabilized above the 70,000 level, and bulls attempted to exert force, with the price oscillating in the 70,500-71,300 range. Multiple upside probes failed to form an effective breakthrough, with noticeable selling pressure above. Currently, the price remains consolidating within the range, with the short-term direction awaiting further confirmation.

From a 4-hour level perspective, although the price is above the 70,000 mark, the rebound highs are gradually declining, with the 71,300-71,500 area forming a clear resistance band. Regarding the moving average system, MA60 continues to constitute strong resistance above, and whenever the price touches this level multiple times, it gets pressed back down, indicating that the bearish defense line remains solid. On volume, the rebound phase has not seen effective volume expansion, showing a pattern of shrinking-volume oscillation. Bulls lack momentum, making upside breakthrough difficult. The RSI indicator is running in a neutral-to-weak zone without showing obvious oversold or reversal signals, and there remains downside risk in the short term.

The bearish bias in the afternoon remains unchanged. As long as the price fails to effectively break through 71,500, rallies represent shorting opportunities. Pay attention to the 71,300-71,500 resistance zone above, and position short orders in batches within this range, targeting the 70,500-70,000 level below. If the price breaks below 70,000 again, downside space will further open up. Long positions are not recommended for now; wait patiently for a pullback into position before making a decision. #Gate13周年全球庆典 $BTC