Although Bitcoin faced resistance around $71,100 and pulled back to $69,700 in the early morning, the price quickly stabilized and volume surged, rebounding above $70,500 to form a clear bottoming and recovery pattern. This indicates strong bullish support around $69,700, and the pullback has not disrupted the overall upward trend.

From the perspective of volume and price relationship, the rebound from the low point was accompanied by sustained buying volume, suggesting that the upward movement is driven by active buying rather than a technical rebound. The price has re-established itself above the psychological level of $70,000, and market sentiment remains optimistic, maintaining a short-term oscillating upward channel between $69,500 and $71,200.

As long as the price can hold above the support zone of $69,700–$70,000, it is expected to continue testing the resistance area of $71,000–$71,200. The current structure is a healthy rebound after a pullback, with bulls still holding the initiative, and the bullish bias remains unchanged. #当前行情抄底还是观望？ $BTC