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From a technical perspective, in the four-hour chart, the lower Bollinger Band provides obvious support, and prices have found effective support in this area. The previous downtrend structure of four consecutive bearish candles has been broken, and K-lines have formed bullish candles after testing the bottom, indicating strong buying support at the bottom.
At the same time, indicators are also releasing positive signals: the KDJ indicator has turned upward from the oversold zone, suggesting short-term rebound momentum is accumulating; regarding the MACD indicator, the green energy histogram continues to shrink, further confirming that bullish momentum is recovering and market sentiment is gradually improving.
It is suggested to go long around 70000 and 70500, with targets first at 73000, and if the level breaks, looking at 76000.
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