In the early morning, Bitcoin dipped to around 68,100 but quickly stopped falling and rebounded, reaching a high of 69,500. Currently, it is consolidating around 68,900. From a technical perspective, this decline did not form an effective breakdown, as there is clear support around 68,100. The hourly chart shows a long lower shadow, indicating strong buying interest at low levels.

The price quickly recovered lost ground and re-closed above the 69,000 level, suggesting that the bulls have not given up resistance. The current consolidation appears to be building momentum for the next upward move. Short-term moving averages are beginning to flatten and turn upward. If the price can hold above 69,200, it may test the previous high of 69,500 and even challenge the 69,800 level. The MACD is showing a bullish crossover below the zero line, indicating weakening bearish momentum. With increasing volume, the rebound could extend further.

Overall, after testing support and confirming it, the price has shifted its center of gravity higher. The short-term structure is relatively strong. Traders may look for long opportunities around 68,800–69,000. Focus on whether the price can break through 69,500; a successful hold above that level could open up further upside space. #Gate正式接入Polymarket $BTC