BTC surged and pulled back today, showing weak range-bound oscillation. Impacted by the hawkish Fed decision in the early morning, risk sentiment declined. BTC faced pressure from 74281.33 USD and probed lower, briefly breaking below the 70,000 level, hitting a low of 69478.51 USD. It is currently hovering around the 70,000 level, with a 24-hour decline of 5.40%; ETH moved in sync and weakened, pulling back from above 2300 to around 2160 USD, showing obvious synchronized decline.

Daily chart showing volume expansion and adjustment, with a long upper-wick large bearish candle piercing through MA7 support, destroying the bullish structure; MA7 turning into resistance, MA14 serving as the bull-bear dividing line, MACD death cross with expanded volume, bears in control. The 4-hour bearish trend continues, with price breaking through the lower rail of the channel, Bollinger Bands opening downward, moving averages in bearish alignment, KDJ oversold but with weak rebound signals, confirming daily weakness.

Market logic: Hawkish expectations resonating with profit-taking at high levels, bullish trend experiencing cyclical reversal, 70,000 support level is critical. Breaking below 69500 USD points toward 68000-67000 USD; reclaiming 71500 USD may see some recovery, overall bias remains bearish.

Trading direction primarily focuses on selling on bounces, strictly controlling position size without chasing shorts. Upper resistance at 71500-72500 USD, lower support at 69500-68000 USD.

Specific trading suggestions: Pay attention to pressure at 71800-71300 range and 72500-73300 range above. If resistance holds at these levels, can still attempt shorts with downside space of 500-6000 points. Complete establishment above 72500 would be considered a short-term trend reversal.

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