Last night, Bitcoin's price movement demonstrated extremely strong independence and resilience. Despite the three major U.S. stock indices opening sharply lower and macro sentiment turning bearish, the price only experienced a brief surge above $70,000 before pulling back slightly to $69,300, then quickly stabilized and launched a more vigorous second rally, once again surpassing the $70,000 mark. Under the pressure of the sharp decline in U.S. stocks, the price not only held above the key support level established this morning but also formed a higher low at $69,300, further strengthening the bottom support structure in the $69,000–$69,300 zone, proving that this area has become a solid defensive line for bulls.

From a technical perspective, after last night's surge, pullback, and subsequent rally, the $70,000 level has been tested multiple times, transforming from an initial resistance into the current dividing line between bulls and bears, with its support strength continuously increasing. Currently, the price is trading around $70,200, above all short-term moving averages, with hourly moving averages aligned in a bullish configuration. The MACD fast and slow lines have completed a re-acceleration above the zero line and formed a golden cross again, with red momentum bars gradually expanding in volume. The RSI indicator is in the strong zone of 60–70, leaving ample room for further upward movement.

In terms of trading strategy, given that last night's pullback confirmed the validity of the lower support and the price successfully defended the $70,000 level, the short-term bullish trend remains intact. The key support zone to watch is the $70,000–$69,800 range, serving as the first support level. As long as the price remains above this zone, a bullish bias can be maintained. Long positions can be held or entered on dips, with initial upside targets set near the short-term resistance zone of $70,800–$71,000.