Technical Analysis

1. Daily Timeframe (Medium-term)
Convergence oscillation within a medium-term downtrend channel, with bulls and bears deadlocked between 69,000–71,000 USD.
Key Resistance: 71,000–72,000 USD (dense trapped buyers zone from previous highs).
Key Support: 68,000–69,000 USD (short-term bulls' lifeline); strong support at 65,000 USD.
Moving Averages: MA7 flat providing support; MA14 (71k) forming resistance; long-term moving averages trending down, medium-term bearish pattern intact.
Volume: Rebounds on decreasing volume, pullbacks on modest increasing volume; insufficient buying support, rally heights limited.

2. Short-term Timeframes (4-hour / 1-hour)
4-hour chart gradually rebounding, 1-hour chart consolidating after doji formation with bulls stabilizing; short-term bias bullish.
RSI (14) around 58, neutral-to-strong, not overbought.
MACD above zero-line flat; bearish momentum decaying, bulls building strength.

IV. Intraday Outlook & Key Price Levels
Core Thesis: Range-bound oscillation biased to the upside; focus on 71,500 USD breakout and 69,000 USD support.
Upside Resistance: 71,500 → 72,500 USD.
Downside Support: 69,500 → 68,500 USD.
Trigger Conditions:
Break above 71,500 USD with volume expansion → Target 72,500–73,500 USD.
Break below 68,500 USD → Test strong support at 65,000 USD.