Bitcoin Afternoon Analysis:

From the chart perspective, Bitcoin surged to 71,787 in early trading and then pulled back. It's currently oscillating narrowly in the 70,000-70,500 range. Short-term moving averages have turned downward, with price pressured below the Bollinger Band midline. Bulls and bears are temporarily in a deadlock.

On the technicals, the 70,000 round number support below is the core level. An effective break below will open downside space. Resistance above is concentrated in the 70,800-71,000 range, requiring volume to break through in order to reverse the current weakness. On indicators, the Bollinger Band continues to narrow with contracting volatility. The KD indicator is in neutral-to-low territory. The rapid upward movement of the purple lower band also indicates that support below is gradually rising, suggesting limited downside space in the near term.

On sentiment and macro factors, profit-taking is evident after the early surge, with the market in a wait-and-see mood. Fed policy expectations continue to suppress risk appetite, and capital flows remain cautious. In the afternoon, pay close attention to volume changes: if volume stands firm above 70,500, it confirms a short-term rebound; if volume contracts and breaks below 70,000, be alert for further exploration toward 69,500.

Operation suggestion: Short 70,900-71,500, target 68,900-69,500.$BTC $GT $ETH