Bitcoin's morning price broke through the 71,000 level again, but lacked substantial bullish support to sustain the upward move, causing the price to pull back once more. On the one-hour timeframe, in recent times the price has tested the 7.1w level three times, only to retrace each time. Looking at the chart indicators, the KDJ three-line has entered the overbought zone. From the VOI volume perspective, bulls remain sluggish. Currently, the war situation hasn't had much impact at the market level, but personally I believe without substantial chip participation, the price will struggle to firmly stabilize above the 7w level in the short term.

Reference: Short at 70,800, target 68,800, stop loss at 1,200 points #BTC #ETH