A Wang An'an's morning analysis:

The price stays close to the lower Bollinger Band, completing a stabilization; multiple dips have failed to break below, showing a clear bottoming pattern. Last night, An'an analyzed that after Bitcoin indeed dropped to the 705 area and rebounded, the bearish volume has been fully released, the selling pressure has been cleared, and the bottom support structure is basically established.

The short-term panic decline has been fully digested, and the oversold recovery demand continues to accumulate. The downward space below is essentially closed, and the bulls' buying strength continues to rise, laying a solid foundation for the subsequent rebound.

The Bollinger Bands continue to contract with decreasing volume, and the battle between bulls and bears has entered a critical turning point, with the market about to choose a direction. Multiple support levels below form a strong defensive line, bulls are gathering strength, and capital inflow is obvious. The short-term rebound window has opened, waiting for a volume breakout to confirm a trend reversal!

Trading suggestions:
4H short-term Bollinger long position, aiming for the 71,000–71,500 range above.