$BTC BTC daily chart retraced to the EMA20 support and then rebounded. Currently, the upper bearish liquidity concentration pressure zone is mainly around 81,000; if the price breaks through strongly in the short term and stands above it, the second round of short-selling pressure zone will move up to 82,000–83,000.

From a capital perspective, the market's weighted funding rate has remained negative for several consecutive days, and the intraday short squeeze sentiment is strong. The short-term upward premium space has been preemptively exhausted, but the rebound height above is relatively limited.

On the technical structure level, the price is under strong resistance from the upper edge of the Vegas channel, with a measurement gap in the 79,000–81,000 range waiting to be filled. Although the daily MACD volume has turned bullish with a golden cross, the market still cannot effectively break above 81,000, showing weak momentum for upward movement.

In terms of trading strategy, at high levels, one can consider establishing short positions around 80,000 in anticipation of a reversal, and then wait for confirmation of a top candlestick reversal pattern and volume-price divergence signals before opportunistically adding to positions again.

From a news perspective, the current market bullish expectations have been fully realized and sentiment has been exhausted. The subsequent lack of sustained positive catalysts makes it difficult for the market to continue a structured rally, and the bullish momentum is waning.

The key short-term support is focused on the 79,000–79,500 range, which is also the dividing line between strong and weak bulls and bears. Holding this level maintains high-level consolidation, while a break below could further open the downside adjustment space.