Last night after the US stock market opened, Bitcoin quickly rebounded after testing the support at $69,400, reaching a high of $71,700. A long lower shadow was left on the daily chart, which usually indicates strong buying pressure below. At the same time, the price has effectively broken through the previous multiple tests of the $70,800-$71,000 resistance zone, opening up space for further upward movement.

From the 4-hour structure, last night's rapid dip was more like a shakeout before a breakout. The pullback did not destroy the rebound trend; instead, it built a higher low. The subsequent volume-driven rally also confirmed the end of the short-term correction. As a correlated indicator, Ethereum also stabilized and rebounded from $2,007, supporting the overall market sentiment.

Currently, Bitcoin has stabilized around $71,200. In the short term, focus should be on the support levels between $70,800 and $71,000. As long as this zone can hold effectively, the market may continue to test previous highs after consolidation. The trading strategy could primarily consider buying on dips.