The early market trend has confirmed my prediction of the bullish and bearish turning points. Bitcoin faced resistance around 71,700 and pulled back; it has now effectively broken below the 70,000 level. This is not a simple correction but a typical sign of exhausted bulls, likely triggering a new round of daily-level retracement.

From a technical perspective, 71,700 has been tested as resistance for the third time. Without increased trading volume, the quick pullback after the third failed attempt indicates a potential top. Especially since the 70,000 level was regained and then lost again, this false breakout not only drained bullish momentum but also trapped late buyers, further confirming a short-term top structure.

In terms of trading strategy, caution is advised. Since the market has broken downward, the short-term approach should follow the trend adjustment. Watch the first support zone at 68,800-69,000; a break below would further confirm the bearish trend. Until the price stabilizes above 70,500-71,000, any rebound could become an opportunity for bears to reassert pressure. #Gate2月透明度报告 $BTC