Yesterday, Bitcoin's overall sideways movement was mild and oscillating, with market volatility noticeably narrowing. The entire day maintained a technical correction pattern of sideways decline, with cautious trading from both bulls and bears. There was no significant increase in trading volume, and the battle between buyers and sellers remained relatively balanced.

In the afternoon, the price dipped below the key support level of 71,700 but quickly stabilized and recovered. The bulls briefly gained momentum, pushing the price up to around 73,600, but faced resistance and pulled back, fully confirming that short-term selling pressure above remains strong.

In the evening, the market accelerated downward, with the lowest touch at 70,600 before stabilizing and turning upward. The current price gradually rebounded to around 71,000, consolidating with sideways movement.

From a technical perspective, this retracement is merely a normal correction deepening, not a trend reversal. In the short term, support levels can be used to establish long positions, waiting for a market recovery and rebound.

Trading suggestion: Buy near 70,600-70,000, aiming for 73,400-74,000, with a breakout target of 75,600.