The psychological battle at the 70,000 mark: Is BTC knocking on the door or testing the waters?
As Bitcoin approaches $70,000 again, the market atmosphere is like the ten-second countdown before a lottery draw—heart pounding, but no one dares to celebrate prematurely. The question is, is this a "true return" or just a "one-time visit"? From a technical perspective, $70,000 is not only a psychological barrier but also a densely traded zone from earlier periods. It is filled with two types of traders: one trying to break free from their positions, and the other short-term traders waiting to sell high. To truly stabilize, a volume breakout is necessary, not just emotional hype. On the emotional level, the market has shifted from "doubting life" to "half-believing and half-doubting." The real bull market often rises amid skepticism, not during applause. If everyone believes it will definitely reach $70,000, then caution is advised. In the short term, watch the rhythm; in the medium term, watch the capital flow. As long as pullbacks are with decreasing volume and rises are with increasing volume, the trend has continuity. If it surges without volume, it’s more like fireworks. In one sentence: $70,000 is not the ceiling; it’s a test of confidence. #BTC能否重返7万美元?
[The user has shared his/her trading data. Go to the App to view more.]
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
The psychological battle at the 70,000 mark: Is BTC knocking on the door or testing the waters?
As Bitcoin approaches $70,000 again, the market atmosphere is like the ten-second countdown before a lottery draw—heart pounding, but no one dares to celebrate prematurely. The question is, is this a "true return" or just a "one-time visit"?
From a technical perspective, $70,000 is not only a psychological barrier but also a densely traded zone from earlier periods. It is filled with two types of traders: one trying to break free from their positions, and the other short-term traders waiting to sell high. To truly stabilize, a volume breakout is necessary, not just emotional hype.
On the emotional level, the market has shifted from "doubting life" to "half-believing and half-doubting." The real bull market often rises amid skepticism, not during applause. If everyone believes it will definitely reach $70,000, then caution is advised.
In the short term, watch the rhythm; in the medium term, watch the capital flow. As long as pullbacks are with decreasing volume and rises are with increasing volume, the trend has continuity. If it surges without volume, it’s more like fireworks.
In one sentence: $70,000 is not the ceiling; it’s a test of confidence.
#BTC能否重返7万美元?