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70,000 Level Sees Repeated Tug-of-War! BTC Under Pressure at High Levels, Bears Poised to Strike
BTC has been oscillating continuously in the high price zone recently, with prices failing multiple times to break through upper resistance levels. The moving average system is gradually turning downward, forming obvious pressure. The bullish momentum has clearly weakened.
After several consecutive days of high-level oscillation and pullback, the 70,000 round number level has formed short-term psychological support. Should this level stabilize temporarily, it will likely trigger a technical rebound with resistance concentrated around the 71,000-71,200 zone, which is also a previous dense trading area.
The major trend remains in a oscillating downtrend pattern, with rebounds serving only as short-term corrections, not a trend reversal. After rebounds face resistance, short positions aligned with the trend remain the primary strategy, with the core target below around 69,000. Should that level break, downside space will open further.
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