Good morning, friends! The overnight Bitcoin first retraced and found support around 70,600, then oscillated and recovered back to the 71,400 level. Facing resistance at that position, it weakened again. As of now, it has returned to the vicinity of 70,600 for sideways trading. The "Concubine" trend is consistent with Bitcoin, completing its adjustment in sync, currently oscillating near 2,190.

Looking at the current market situation, Bitcoin remains in a weak correction pattern. Over the weekend, overall trading sentiment was poor, with the downward pace slowing, but the main trend structure led by the "Kongtou" has not fundamentally changed. From the four-hour perspective, this round of decline was dominated by increased volume from Kongtou, accompanied by slight rebounds, which were only phase releases of Doutou momentum and failed to reverse the trend. The overall downward structure remains intact and smooth. After touching the lower band, the price found some support, but short-term consolidation and buildup are still needed. Combining the hourly view, the consolidation center continues to shift downward. After a correction and repair of fragmented K-lines during midnight, it failed to stabilize effectively. In the early morning, Kongtou volume increased again to push higher; the fast and slow lines and the three lines of KDJ are about to form a death cross resonance, further clarifying the need for a pullback. The first key support below is around the 70,000 integer level, and its effectiveness and breakout situation should be monitored. The market continues to revolve around rebounds and Kongtou.

Bitcoin: 71,000–71,500 Kongtou, with a downside target of 69,000.
Concubine: 2,220–2,250 Kongtou, with a downside target of 2,120. $BTC $ETH #Gate现货衍生品双双冲进全球前三 #Meta推出AI模型MuseSpark