Bitcoin trading remains range-bound as market sentiment continues to be pessimistic, with the CED sentiment indicator at an extreme negative value of -10.88. The cryptocurrency is oscillating between $70,600 and $71,500, lacking a clear directional trend. Despite the potential for a technical rebound, strong resistance at $71,500 poses a challenge for upward movement. Trading volume has remained stable, showing no signs of a volume-backed breakout. Traders are advised to adopt a neutral to cautious approach, with recommendations to either stand aside or trade with light positions within the current range. Key resistance at $71,500 remains a critical level to watch, as failure to break through could lead to a return to the downtrend.