Morning market overview maintained a narrow range consolidation pattern overall. Bitcoin operates mainly between 70,300 and 71,200 USD, with the high capped at 71,200 USD and the low repeatedly testing the validity of 70,300 support. Ethereum consolidates in sync, with price fluctuations locked between 2,050 and 2,090 USD. As of now, Bitcoin price has slightly rebounded to around 70,900, but overall volatility is low, with the market in an observation stage before directional selection.

From a technical structure perspective, although the current price has rebounded to the 70,900 line, the 71,200-71,500 USD zone above remains a strong resistance area difficult to overcome in the short term. This zone has suppressed price rebounds multiple times over recent weeks, forming a supply band at the daily level. On-chain data shows the profit ratio of short-term holders continues to decline, and the CMF indicator forms a bearish divergence with price, indicating capital outflow. Additionally, Ethereum is simultaneously blocked at the 2,120 USD resistance level, and if unable to break above, it may further dampen market sentiment. Overall, technical indicators lean bearish, rebound momentum is exhausted, and short-term pullback risks are accumulating.

In terms of operations, it is recommended to adopt a high short strategy primarily. Pay attention to the 71,200-71,500 USD resistance zone above; if the rebound reaches this zone with stagnation signals or minor pullback, consider establishing short positions with light positions, with targets first watching the 70,300 support level, and if breached, further look toward the 69,800 area. Stop loss can be set above 71,800 to guard against false breakout risks. Throughout the day, closely monitor whether price can hold steady at the 70,300 line; if it continues to be pressured below 71,200, short-side advantages will be further consolidated. #Gate广场AI测评官 $BTC