Evening Bitcoin Outlook

Bitcoin just hit a new high of 80,590, then was directly knocked down by the sudden news of two missile launches. The high-level evening star pattern combined with geopolitical panic triggered a rapid pullback. This decline is a typical news-driven plunge, not purely due to technical weakness.
It has now broken below 79,469, and the market has returned to a flag formation consolidation. The first support level to watch is 78,563; this is the boundary between bulls and bears. If it further breaks below, look toward 77,370.
If it can hold, Bitcoin will consolidate and attempt to retest the previous high; a volume breakout above 80,815 would see resistance taken out smoothly, with a target of 82,172. The Fibonacci 1:1 target is at 81,681. If it stabilizes here, the 1.618 extension level can be anticipated.

Trading Suggestions:
A volume breakout above 79,492 can be followed with a long position.
If it drops below 78,563 with volume and cannot recover, consider a short position.