$BTC

BTC broke below 70000, directly falling to the 68000 support level. The current price is around 69,000. Trading volume has moderately increased, indicating that the bears are somewhat exhausted, and bottom-fishing funds are slowly entering the market. However, 70000 has now become a strong short-term resistance level, and the overall situation is entering a critical support testing phase.

From a technical perspective, after breaking 70000, the descending channel remains effective, with 68000 being a previously dense support level and an important psychological barrier.

RSI is already close to oversold, showing initial positive divergence; although MACD has a death cross, momentum is clearly weakening, and volatility has also compressed, indicating the typical characteristics of the end of a washout.

In the short term, there is a high probability of oscillating and building a base in the 68000-69000 range:

If it can hold above 68000 + a strong bullish candle with increased volume, there is a chance to rebound and test 70000-72500.

If it fails to hold 68000, it may accelerate to retest the next strong support level at 65000-66000.