Bitcoin's market today is unusually frustrating, with very little volatility, the market is dead silent, and those unaware might think it's a weekend trend, waiting for news to land before moving in a direction.

Previously, the market was originally planned to follow an equal lift pattern, targeting around 75,450, but the bulls lacked strength, and the high only reached about 73,770 before encountering resistance and falling back.
During the decline, the price directly broke below the key neckline at 71,450, and the hourly bullish structure weakened, taking down the support levels of the bullish trend below as well.
Subsequently, a rebound and correction occurred, but the price failed to stabilize above the key resistance level, and the bulls were unable to mount a strong comeback, leading the price to decline again.

Currently, the price has fallen to around 70,450 at the bottom of the range, temporarily stopping the decline and entering a zone of consolidation.
This level was previously a resistance point repeatedly broken by the bulls; once broken, the resistance turned into strong support.
Therefore, when the price drops here, the decline slows down and it won't easily break through; repeated testing is needed before a breakdown might occur.
If this support holds, there is a chance for a rebound and recovery; if the bottom of the range is effectively broken, the hourly bullish trend will be essentially broken, and the market will reverse trend.
The first strong support below is around 69,200; losing this level would mean the end of this round of hourly upward movement.

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