Bitcoin is currently quoted at 70,900. Many friends are debating: after consolidating near 70,880 for so long, should we bottom fish or continue shorting? Let me clarify the core logic.

Since the rally from the lows, Bitcoin has failed to escape the major downtrend from the previous decline. The current narrow-range oscillation is merely a brief consolidation after extensive selling, not a signal of trend reversal.

The MA60 moving average overhead continues to exert downward pressure, and bulls' repeated upside attempts appear weak and powerless, with rebound momentum gradually waning. This narrow-range consolidation is often a prelude to a directional breakout—the next candlestick could determine the direction. Blindly bottom fishing or aggressively chasing higher prices is prone to being repeatedly shaken out and liquidated by major players. Stay alert at all times.

Trading Suggestion: Set up short positions in the 71,200-71,800 range, with downside targets of 69,600-69,000. If it breaks below 68,000, further downside to 66,500 is possible. $BTC $XAUT #美国提出15项条件和谈方案 #OpenAI正式关闭Sora