Currently, on the hourly chart, Bitcoin has successfully broken through the resistance level of 80,830 and surged above 81,000, but it failed to stabilize and continue moving upward.

Everyone can see that the candlestick forming the new high has a particularly poor shape, which is a typical shooting star, indicating strong selling pressure above. The market tried to push higher but ultimately couldn't withstand the selling pressure, resulting in this kind of movement. Looking at the volume during this upward move, the price kept rising while the volume was quite weak, indicating a volume-contraction rally. The volume bars didn't even break through the previous levels, so a rally without volume support is normal to see a pullback next.

However, a smooth pullback isn't that easy; the key level to watch is 80,350. This point was previously a resistance level, which turned into support after being broken. Only if the price falls below this level will the correction continue downward, likely retesting the support zone between 79,820 and 79,430. If this zone is also broken, the correction could be larger, with the next target around 78,440.

Moreover, this rebound has already gained a significant increase, and a technical correction is due. The market is naturally fluctuating, and a proper pullback can actually be beneficial for the continuation of the upward trend.

$BTC In terms of operation: Support at 79,820-79,430! The next target is 80,870; if broken, look for a rise to 81,780-82,960. Set your stop-loss based on your position size, around 600-800 points!