Daily level: Price breaks through the middle band of Bollinger Bands and the 70K round level, medium-term weakness, short-term bearish trend established. 4-hour cycle: The chart shows a double-top formation, rebound highs declining, three consecutive bearish K-lines, volume contraction, upside pressure increasing, MACD green histogram expanding, bearish trend strengthening, downtrend confirmed. News fluctuations cannot change the technical breakdown; it is recommended to focus on rebound highs for subsequent market movements, strictly control stops with tight stops, and follow the trend accordingly. BTC: Short-term range near 71200-71800, downside targets 70200-68000 ETH: Short-term range near 2180-2220, downside targets 2130-2060

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Bitcoin rapidly surged from $67,300 to break through $71,000, driven by geopolitical easing, short squeeze, and technical correction resonance. The situation in the Middle East has cooled down, expectations for rate cuts have increased, and combined with concentrated liquidation of short positions, this has propelled a pulse-like rally. However, spot trading volume is insufficient, and resistance around $72,000 is evident. After the spike, the price quickly retreated, indicating an oversold rebound rather than a trend reversal. In the short term, it is highly likely to fluctuate within the $69,000–$72,000 range.