Bitcoin is currently consolidating around $71,000 with decreasing volume, indicating a pullback confirmation stage after breaking through the downward trendline.

From a 4-hour chart perspective, there is strong support from spot buyers below, and the multi-week downtrend line has been effectively broken. The current price is precisely stabilizing at the resonance zone of the ascending trendline and the breakout point, forming a typical bullish flag pattern.

The previous rapid dip near $68,000, followed by a sharp rebound with a large bullish candle after clearing out significant long leverage positions, clearly shows that major funds are eager to defend the low levels.

Combined with the fading panic in the US stock market, a rebound in market risk appetite, and gradually improving macro liquidity, these external factors support the market. The overall environment remains favorable for bulls.

$71,000: The resonance zone of the ascending trendline and support level, suitable for phased accumulation on the right side.
$69,500: Key defense level; if the price closes below this, the short-term bullish structure may be broken.
$73,000: Short-term resistance; breaking through the previous high could further open upward space.

Currently, the lows are continuously rising, and the trend has shifted from bearish to bullish. Trading should follow the main force's strategy and maintain a bullish approach. As long as there are no sudden macroeconomic negative shocks, the market is likely to break above the previous high in the near future.
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