Bitcoin on the hourly chart, the key support area below has already been broken, indicating a new downward trend is unfolding. The current 4-hour chart just touched the lower band of the Bollinger Bands, showing a short-term pattern of oscillation and correction.

According to Lu Cheng's prediction, before 12 noon today, the market is likely to enter a period of sideways consolidation.

The key variable moving forward is: if Bitcoin can rebound strongly and stabilize above 77,000 in the evening, then the existing downward structure will be directly reversed, and the bullish outlook during the early trading session remains valid; on the other hand, if the price falls below the 76,000 support level, it may be difficult to see a clear turnaround for the bulls in the short term. As of now, the bullish attitude towards the future market remains relatively firm.