Yes, cycle 570 means your refund has been held, or delayed, by the IRS for an unspecified reason and an unspecified period of time.
This code is very common for early filers. Sometimes the IRS will ask you to verify your identity, or take another action, and sometimes, they will just release the hold.
Transcript code 971 indicates that the IRS has sent you a letter regarding changes that will be happening related to your tax return.
Once you get your letter, you can respond back here for more help, or use the Audit Support center.