$BTC The overall price remains in an upward channel, but it is approaching a key resistance zone above, with the main resistance located in the vacuum area below 80k. The area above 760 still primarily focuses on long-term position building.

Although the four-hour timeframe shows gradually higher highs, the MACD momentum has already weakened, and the bullish energy is diminishing. A large number of liquidations are clustered in the 758-763 range. When the price approaches this zone again, caution is advised against chasing the high. If there is a volume spike accompanied by a long upper shadow, it is an ideal entry signal for a short position.

Short-term support is around 738. In the long term, if the 705-715 zone is broken, this rebound cycle will be over.

The recent market has been almost sideways, in a phase of bullish and bearish contest. The weighted funding rate has been negative for several consecutive days, which warrants high alert—whales may be using the large short positions accumulated in this range to perform violent pump-and-dump actions.