Is the Bear Market really here on March 30th???

Can the rebound of the market stop the overall downward trend? Yesterday, the bearish trend continued strongly, with Bitcoin plummeting all the way down to the 81600 level. The continuation of the bearish trend was expected; however, the market saw a turning point last night. The bears did not capitalize on their advantage to push down to the 80000 mark, but instead welcomed a rebound for correction. This morning, the price continued to rise to around 83500.

From the perspective of the larger trend, the overall situation is still bearish. The consecutive bearish days on the daily chart have broken the warming trend, and the small level rebound is merely a routine correction in the market. From the perspective of the 4-hour chart, the previous large bearish candlestick violently broke below the lower bound and gained some support below, triggering this rebound. However, the current small bullish movements are lacking strength and cannot reverse the weak trend. Analyzing from a smaller time frame, to achieve a reversal, the price must return above 850 and hold its ground. At this stage, the rebound strength is relatively weak, and the pressure above is like a mountain. In the future market, we should focus on the key level of 840. As long as the price fails to effectively break through, we will continue to view the market as bearish.

In the afternoon, the pancake reference is 83500, looking at 81500; the aunt reference is 1850, looking at 1780.