That move up for Bitcoin, followed by the pullback, is actually quite normal. Once it reaches a resistance level, it naturally needs to retrace to digest. Earlier, the first time it surged to 79,500, it only stabilized after retracing to around 76,600.



For this round of pullback, first focus on the 77,400 level. If you’re holding short positions, you can consider trimming your positions around here or just exiting directly. After all, this is a daily-chart-level support. As long as the daily chart doesn’t break below it, the overall bullish structure is still intact.

If 77,400-76,600 can hold, then there’s still a chance for a third push higher later, to challenge the 79,500 resistance level again. Once there is a valid breakout, upside space will open up—the target can be in the 80,000-81,000 area.

But if it directly breaks below 76,600 tonight, you need to pay attention to risk. Most likely, it will dip to insert a wick lower first—look at the 75,000-74,000 range. If there’s a quick dip in this stretch, it may actually be an opportunity to consider entering long positions again.
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