Bitcoin experienced a one-sided decline the day before, primarily due to technical pullback. The Fed maintained a neutral-to-hawkish tone, global assets took a significant dip, and notably, risk-off sentiment intensified again.

A technical correction following a sharp rally is normal, especially since this wave of gains was driven by sentiment. Although the Fed's remarks leaned hawkish, they weren't aggressive, with limited volatility during the speech. The global asset selloff was mainly reflected in gold and silver, as the early-year consecutive crashes were driven by precious metals plunging.

Notably, "risk-off" is worth mentioning. With Middle East issues occurring repeatedly, market sentiment is naturally influenced accordingly. Even with four major indices declining simultaneously, they haven't exceeded 5,000 points of decline, which demonstrates Bitcoin's resilience. More importantly, it has held steady above $70,000.

The rally at the beginning of the week relied on the $70,000 level to unfold, or more precisely, started from $69,000. Even if we retrace, as long as we don't break the $69,000 support, it can be considered a normal pullback. After short-term consolidation, we should continue looking for support to bounce.

Following the routine of yesterday's closing doji, the Asia-European session today will likely continue to retest $70,000, so we just need to wait for an opportunity to enter.

Support below: $69,500-$70,000 zone.
Resistance above: $72,000-$72,500 zone.$BTC