$BTC Look at the 4-hour chart, Bitcoin is now at 77,632, just stuck around the middle band of the Bollinger Bands at 77,497, neither up nor down, a typical weak consolidation.

The key point is that the rebound is becoming less and less vigorous. It used to be able to brush above 78,000, but now it can't even hold the middle band, with the highs continuously moving lower. This kind of movement indicates that the bulls are basically lying flat, and the bears are slowly taking back control. As long as the middle band can't be broken through, there's a high probability that it will continue to test lower levels. First, see if the previous low at 76,900 can hold; if it can't, it will head toward the lower band at 76,000.