BTC Returns to the 70,000 Level: MACD Bullish Momentum Expanding, Is the Rebound Starting?

From the 4-hour chart of BTC, after experiencing a deep correction from above $93,000 down to $59,000, the market currently shows clear signs of stabilizing and rebounding. As the price reclaims the $70,000 level, bullish confidence is rapidly rebuilding.
1. Price Movement and Moving Average System: Regaining Key Levels
After several days of wide-range fluctuations, BTC is now trading at $70,300.
Stabilizing above MA60: The price has effectively broken through and stabilized above MA60 ($68,500). Previously, MA60 was a strong resistance level for the rebound. The successful volume breakout indicates a short-term trend shift from bearish to bullish.
Advancing towards MA100: The nearest resistance above is MA100 ($72,600). Due to the previous deep decline, there are many trapped sellers above, so some selling pressure is expected in the $72,000–$73,000 range.
2. MACD Indicator: Strong Bullish Crossover, Robust Momentum
Dual-line operation: DIF and DEA have formed a bullish crossover near the zero line, with the gap widening. This is usually a sign that the bullish trend is accelerating.
Energy histogram analysis: The green momentum bars continue to grow without signs of decreasing volume, indicating active buying near $70,000 and a healthy upward channel under bullish control.
3. RSI and Volume Warnings
Although overall bullish, the RSI(6) has reached 73.0, entering the short-term overbought zone. This suggests that after a continuous rally, the price may experience a slight pullback or sideways consolidation near the $72,000 resistance to correct overbought conditions.
4. Summary and Trading Recommendations
Support level: Focus on $68,500 (MA60). As long as the pullback does not fall below this level, the upward trend remains intact.
Resistance level: Strong resistance is seen at $72,600 (MA100). If volume can push through and hold this level, a move towards $80,000 is possible.