#Blockchain [Super Topic]#王安安 4.7 Midday Market Analysis

From the 1-hour chart perspective, Bitcoin has stabilized around $68,700 and entered a consolidation phase. After a deep retracement earlier, market bearish pressure has been fully released. The price has begun a steady rebound from the recent low, with strong buying support from bulls below, and overall market sentiment is gradually recovering and improving.

Currently, the price has successfully broken through the middle band of the Bollinger Bands, which are expanding upward. The short-term moving averages are also turning upward in unison, forming a bullish alignment. The MACD indicator shows a persistent golden cross with increasing momentum, while the RSI is rising from low levels. Multiple technical signals are resonating, further confirming that this short-term rebound is structurally complete, with room for continued upward movement. However, the current market is significantly influenced by news factors. If the rebound weakens or faces resistance, traders may consider short positions.