Bitcoin is oscillating narrowly in the 71000-71100 range in the early morning hours, currently trading at 71000. Overall, it is in a consolidation phase following the rally attempt. The 15-minute level bullish momentum is weakening, and the short-term is entering a directional choice window.

On the 15-minute level, price is running close to the middle band, with the upper band turning downward. There is a need for a pullback to the lower band in the short term, with initial death cross signals appearing, and bearish sentiment gradually intensifying.

If it breaks below the 70800 middle band support, it will confirm the start of a short-term pullback. The 70000 level below is a key defense position. A break would target the 69000-68500 range.

If it holds above the 71500 upper band, there is a possibility of further challenging the previous high of 71777. Otherwise, treat it with a bearish volatility bias.

Primary: short positions, Secondary: long positions on dips

Scale in short positions in the 71500-72000 range. First target: 70800. Second target: After 70000 breaks, watch 69000-68500 → 67000#Gate储备金报告 $BTC $ETH