Tuesday Night Analysis:

In the afternoon, Bitcoin continued its strong momentum, rising from around 68,500 to approximately 71,200.

From a four-hour perspective, this rally started from a low of 65,800 and surged up to 71,200, with a total increase of over 5,400 points. The bulls are showing clear signs of overbought conditions. The RSI indicator on both the four-hour and hourly charts has entered the overbought zone above 70, indicating a short-term technical correction is needed. Although the MACD is still in a golden cross, the red bars are beginning to shrink, signaling a weakening upward momentum. The current price is more than 1,500 points away from the EMA15 (69,500), with a large divergence, suggesting a technical pullback to confirm support is necessary. The 71,200 level also coincides with the upper boundary of a previous high-volume trading zone, where short-term selling pressure has noticeably increased.

In the short term, the bullish momentum is waning, and with indicators overbought, a correction is likely. Key resistance levels are around 71,200-71,500. If a volume breakout cannot be achieved, consider shorting above 71,000 with targets around 70,000-69,500, and a stop-loss above 71,500. The first support level is at the 70,000 mark, with strong support between 69,500 and 69,800. If the price stabilizes near 69,500 during a pullback, it may be an opportunity to re-enter long positions. #Gate2月透明度报告 $BTC