Brothers, Bitcoin broke through 70k, let me give you a quick breakdown!

Bitcoin is now at 69,400, it directly broke the 70k level, overall bearish is still dominant, but after dropping this much, there's definitely going to be a short-term bounce.

Looking at the daily chart, the trend has weakened, the moving averages are pressing down heavily, and 68,000 is holding strong support below. The rebound first needs to see if it can get back above 70,500. If it can't, we're heading lower.

4-hour timeframe shows a clear descending channel, don't expect too much from the rebound, the key is 70,500. If it breaks 68,500 again, the drop will be even faster.

On the 1-hour level, after such a drop there needs to be some correction, short-term has a rebound requirement, but it only counts if it breaks 70,500. If it doesn't get through, after the bounce we're still going down.

The main direction is still bearish, short-term small rebounds can be caught, watch the 68,000 support and 70,500 resistance, play it safe and wait for the direction to become clear before making moves, don't rush in!

Giving away 5U each to 5 brothers selected from the comments!