Bitcoin was tested three times at the 70500 level in the early morning yesterday without breaking through, forming a solid short-term support structure and laying the foundation for a rebound. After the price stabilized in that area, it oscillated upward and has currently recovered to around 71400, validating the bullish outlook from the early morning.

From the four-hour structure perspective, a clear "triple bottom" pattern has formed near 70500, with each pullback being quickly recovered, indicating clear buying interest at this level. The short-term moving average system has begun to turn upward, with MA5 and MA10 forming a golden cross, and the K-line has firmly held above the short-term moving averages, providing technical support for the rebound. MACD bearish momentum histogram continues to narrow, with the fast and slow lines converging below zero axis, showing signs of forming a golden cross, suggesting that downward momentum is exhausted and bulls are accumulating strength. RSI has rebounded from the oversold zone to the 40 neutral-to-weak area, still having room for upward correction. 71400 as a previous minor platform has transformed into short-term support after breaking through; if this level holds firmly, the rebound is expected to extend further toward the 71800-72000 zone.

Operationally, long positions established at the 70500 support level in the early morning can be held, with short-term pullbacks to 71000-71200 area without breaking as another opportunity to follow the trend and add long positions. Today's defensive level can be moved up below 70500, with the first target above at 71800, then 72500 level on breakthrough. If the price struggles to firmly establish above 72000, watch for oscillations and consolidation after the rally.#Gate正式接入Polymarket $BTC