The afternoon decline lived up to expectations, successfully breaking through the 70,000 level, and after touching a low of 69,421 with a subsequent rebound, it remains in nature a technical correction following oversold conditions rather than a trend reversal. The current price has rebounded to around 70,280, which is precisely a key area for testing the validity of this breakdown.

From a structural perspective, the breakdown of the 70,000 level carries technical significance, as this position has transformed from a previous psychological support into current resistance pressure. If unable to quickly establish stability above 70,300 and recover the afternoon's losses, this rebound is merely a brief consolidation by bears following volume expansion, and the probability of resuming downside after accumulating strength is relatively high. On the indicator level, the 4-hour MACD bearish momentum histogram shows no significant volume contraction, and the bearish suppression from the moving average system remains unresolved.

Operationally, it's necessary to maintain trend-following thinking and focus on the pressure situation in the 70,300-70,500 zone. After the rebound loses momentum, it remains an opportune time to open short positions, and downside targets can continue to monitor support testing in the 69,000-69,500 zone. #Gate13周年全球庆典 $BTC