The morning market maintained a narrow range consolidation pattern overall, with Bitcoin trading primarily between $70,300 and $71,200, with resistance pressure at the $71,200 level and the low point testing the validity of the $70,300 support multiple times. Ethereum consolidates in sync, with price fluctuations locked between $2,050 and $2,090. As of now, Bitcoin has slightly recovered to around $70,900, but overall volatility remains low, with the market in a wait-and-see stage before directional confirmation.

From a technical structure perspective, although the current price has rebounded to the $70,900 level, the $71,200-$71,500 region above remains a strong resistance area that is difficult to overcome in the short term. This zone has suppressed price bounces multiple times over the past few weeks, forming a daily-level supply zone. On-chain data shows that the proportion of short-term holder profits continues to decline, and the CMF indicator forms a bearish divergence with price, indicating that capital is flowing out. Additionally, Ethereum is simultaneously blocked at the $2,120 resistance level; failure to break above could further weigh on market sentiment. Overall, technical indicators are bearish, rebound momentum is waning, and short-term pullback risks are accumulating.

Operationally, the recommendation is to maintain a short bias. Watch the $71,200-$71,500 resistance zone above; if the rebound reaches this zone and shows signs of stagnation or a minor pullback, consider establishing short positions with light positions, targeting the $70,300 support level first, with potential further decline toward $69,800 if broken. Stop loss can be set above $71,800 to guard against false breakout risk. Intraday focus should be on whether price can firmly hold the $70,300 level; if it continues to be pressured below $71,200, the bearish advantage will be further consolidated. #Gate广场AI测评官 $BTC