Bitcoin Today’s Outlook

The short-term structure shows a series of bullish candles rebounding from the low of 70,400, indicating a correction after an oversold condition. A reversal pattern has not yet formed.

Volume (implied): During the rebound, there was no significant increase in volume to break through the moving averages, suggesting a weak rebound with questionable sustainability.

Watch whether the rebound can break through 71,100. If it faces resistance and stabilizes at a high level, consider directly entering short positions.

If it retraces to 70,700-70,800 and shows signs of stabilization, you can try a small long position, targeting 71,500 and 72,500.
If it breaks below the support level, consider riding the trend and going short. The main approach is to follow the trend with auxiliary actions.