Real-time BTC analysis.Bitcoin / U.S. dollarBITSTAMP:BTCUSDChuck_WilsonYesterday I posted an article suggesting shorting BTC at $70,300, and the market movement perfectly matched my analysis, resulting in a perfect profit (you can check my previous article). Currently, BTC appears to be consolidating within the $68,000 - $70,000 range. If the situation in the Middle East does not deteriorate further, the probability of testing the $66,000 support level is greater than a direct breakout above $72,000. The 1-hour chart shows that after a significant drop below the EMA7 and EMA30 moving averages, the BTC price is currently under pressure around $69,000. The MACD death cross momentum continues to amplify, and the RSI has fallen back to the weak zone of 46.44, indicating that the short-term bears are in control, and the strength of the rebound remains to be confirmed. Meanwhile, an upward trend line has formed on the hourly chart since the low of $65,688, with current support around $67,500, forming the last line of defense for the short-term bulls. The daily chart shows a long upper shadow, which is a typical "false breakout" pattern that lures in more buyers. The Bollinger Bands continue to narrow and flatten, with prices trading above the middle band (approximately $68,400), but upside potential is limited by the upper band ($71,600). The MACD lines have formed a golden cross below the zero line and are moving upwards, with the histogram gradually expanding, indicating that the medium-term bearish momentum has been released and bullish forces are accumulating. However, the KDJ's J-line has entered the overbought zone, suggesting a short-term technical adjustment is needed. We will continue to implement range trading for now. BTCUSD BTCUSD BTCUSD BTCUSD BTCUSD