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Market Review: In the early morning, the price explored near 70,600 and subsequently pulled back to consolidate near 70,000. It has now started to rebound upward, with the current price moving to around 70,400 for narrow-range consolidation. Consistent with our early morning analysis strategy, friends who shorted near 70,800 in the early morning have already taken profits.
Currently, BTC has continuously closed with large bearish candles, with bearish momentum continuously releasing. The overall trend maintains a clear weak downtrend pattern. The strength of bullish rebounds is weak, with price constantly constrained by short-term moving average resistance. This level has shifted from support to an important resistance zone for rebounds. Additionally, this position also basically aligns with the current 5-day moving average, forming double resistance from both the moving average and key levels.
BTC Short near 71,000 Target 69,500#Gate13周年全球庆典