#BTC

Currently, we have entered a critical bull-bear watershed on the 2-hour timeframe. From the current moving averages, the EMA20 and EMA50 have already effectively broken down; these two short- to medium-term moving averages were originally support in an upward trend, but now they have switched roles and are acting as resistance. The main support is the EMA200 below; if it is broken, the upward trend on the 4-hour timeframe will come to an end.

The MACD has completed a death cross above the zero line, and the gap is widening. The short-term correction momentum is still being released, and no clear signs of a trend reversal are seen. Price faced significant resistance at 79,300 yesterday, showing signs of a double top, and broke below the neckline area. If the next few candles cannot recover above 77,000, there is a high probability of a pullback to 74,900. For long entries, consider observing the 75,800-75,000 zone for signs of a bottom before considering a long position, with a stop loss below 74,500. Currently, the trend favors testing support levels; it is recommended to watch more and act less, waiting for the reaction after testing support.