Bitcoin tested the 72,000 level yesterday but faced selling pressure and pulled back, indicating there is some resistance above. A pullback to consolidate is a normal pattern for prices to continue breaking through.

Yesterday Jiang Wei turned bullish at the bottom, with short-term moves above a thousand points. Looking at the technical structure now, the 4-hour K-line has retested with a higher low, indicating the uptrend is the direction of the market. The daily K-line is similarly maintaining its position in the upper-middle band. When price retraces to the middle band, that's our opportunity to look for a bullish setup.