Big Bitcoin Afternoon Analysis:

The current price is weakly consolidating around 70,762, having broken below short-term moving average support. The 71,000-71,100 zone above forms a strong resistance band, with rebound attempts failing to break through. Short-term moving averages have turned downward, while medium- and long-term moving averages remain at high levels, exerting pressure. The moving average pattern is gradually shifting toward a bearish alignment, indicating a bearish trend bias. The recent key support zone below at 70,488-70,500 is critical; if it is effectively broken, it will open further downside space, with targets toward the 70,000 level. Rebound volume continues to be insufficient, bullish momentum is waning, and market sentiment is leaning toward cautious bearishness. It is recommended to consider short positions on rallies.

Operation suggestion: Short at 71,400-71,900, with a target of 69,400-70,000.