Bitcoin rapidly declined to touch the 76,500 level, then immediately stabilized and stopped falling. Currently, the quote is stable around 77,300. The battle between bulls and bears in the market is becoming increasingly intense, and the overall trend has entered a range-bound consolidation phase. The hourly chart showed a continuous downward trend yesterday, with the 76,000 key strong support holding the bottom of the market. Although there was a slight rebound during the early hours, the buying momentum was severely lacking, and the short-term trend remains dominated by consolidation and adjustment.

From the four-hour cycle perspective, short-term bearish forces are dominant, and there is still a possibility of further decline and correction. However, the larger upward trend structure remains intact, and the overall trend continues to fluctuate at high levels. Based on the overall market rhythm, the early morning short-term trading direction is clear: when encountering resistance and pressure during rebounds, it is a good opportunity to short, following the short-term pullback rhythm for trading.