Afternoon Bitcoin market sentiment underwent a significant reversal. After the price stabilized around 69,400 USD, bulls launched a strong counterattack around 4:30 PM, with a volume-expansion bullish candle directly pushing the price above 70,000 USD, reaching highs near 70,400 USD, essentially recovering the day's losses. From the four-hour chart perspective, 70,000 USD is not only a psychological level but also a minor-level top where previous rallies faced resistance multiple times. After being effectively broken through this time, it has converted into strong support. As long as the pullback doesn't break this level, short-term upside space will be further opened.

From a technical pattern perspective, the stabilization at the 69,000 USD level in the morning, combined with the volume-expansion rally in the afternoon, has constructed a clear "W-bottom" reversal pattern on the hourly level. The afternoon rally is accompanied by significant volume expansion, indicating that this rally is effective with incremental capital entry. Meanwhile, the MACD indicator completed a golden cross near the zero line, with the red momentum bar beginning to expand, showing that bullish momentum is just beginning to release.

Currently, the market has transitioned from morning's oscillating defense to bull dominance. Operationally, one should follow the trend, focusing on buying on dips. Pay attention to the 70,000-69,800 USD top-bottom conversion zone below as the first support level. As long as the price remains above this zone, long positions can continue to be held or entered on dips, with the next target being to challenge the previous high area. #Gate广场AI测评官 $BTC