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From the 1-hour chart, Bitcoin is currently around $68,700. After a deep correction in the earlier period, the bearish momentum has been fully released. The price has been gradually rebounding from the stage low, and the bulls’ follow-through strength is relatively strong. The Bollinger Bands’ middle-track pressure is being gradually broken through, and the bands show signs of expanding, indicating there is still further upside room above.
For the midday trading outlook, we maintain a bullish bias. Pay special attention to the strength of support in the 68,500–68,800 range. For resistance, watch the 69,500–70,000 area, and it is recommended to primarily set up long positions on dips.
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