The overall BTC market today fluctuated within a narrow range, with the lowest reaching 69,300, and then rebounding to as high as 70,800. The overall fluctuations were not large. After this wave of upward surge, some hold-up orders and profit-making orders below began to close. As long as there is no heavy volume decline, A small retracement is acceptable, and the overall rebound structure has not been destroyed.

At present, the impact of gray selling pressure is gradually decreasing, and the spot ETF has changed from outflow to inflow. As long as there is no heavy volume and it effectively falls below 68600, we still maintain a bullish attitude and operate around the key resistance and support point of 68600 below. However, we will pay attention to the rising momentum in the future. If it is strong enough, the target is still above new highs.

From a graphic point of view, the 4-hour level is still relatively strong. It is currently a step back after a surge. The current callback must first focus on whether it can effectively fall below the previous low of 69300. Further support will focus on 68600, which will effectively fall below 68600. It will weaken in the short term and return to a wide range of fluctuations from the upward trend.

There is no need to panic until it effectively falls below 68600. It is more difficult to operate at high levels. You can reduce your position appropriately or hold core currency spot instead.

In terms of points, focus on the short-term resistance at 70800 71500 at the top, and continue to focus on the short-term support at 69300 68600 at the bottom. Don’t panic too much at the current position, and step back reasonably.

If you can't break 69300 in the last operation, you can try to buy low and focus on 68600 for further support. For breakthrough ideas, pay attention to 71500. If there is a breakthrough with heavy volume, you can try to chase the long position.