Bitcoin consolidates around 68,000 in the early morning with narrow fluctuations. At midnight, it retested the 67,000 level and then experienced a small rebound, reaching near 68,800 before facing resistance and pulling back. Currently, the price is repeatedly testing the 68,500 level. The entire early morning movement is a classic oscillation and shakeout—poking up and down, neither bulls nor bears giving a clear advantage. My long positions entered at low levels yesterday are still held, with the initial target at the 70,000 level.

From the four-hour timeframe, Bitcoin is still in a correction phase within an upward trend. After retesting the 66,080 low yesterday, the price quickly recovered and is now back above the middle band of the Bollinger Bands. The short-term moving averages are in a bullish alignment, with MA7 and MA30 forming a golden cross and diverging upward, indicating a typical upward continuation pattern. The Bollinger Bands are slightly widening, and the price is moving along the middle band with small bullish candles, maintaining an overall structure of higher lows and higher highs—an upward trend. The MACD fast and slow lines are above zero, with decreasing bullish momentum bars but no reversal, suggesting that after the correction, there is still upward momentum. The outlook remains unchanged—watch for potential breakouts above resistance.

Bitcoin can consider a long position in the 67,800-68,300 range, targeting around 70,000. Altcoins can go long at 1,950-1,975, with a target near 2,050.