Bitcoin faced resistance and pulled back after rebounding above 82,800, currently in a volatile pattern below a key resistance zone. The technical aspect shows signs of intensified bullish and bearish battles, on-chain indicators turning positive, but market sentiment remains cautious.

Currently, the market is in a tug-of-war between panic driven by news and institutional support, and until it clearly breaks above the 200-day moving average of 83,300, avoid chasing rallies or panic selling near this level. Additionally, close attention should still be paid to whether MicroStrategy will actually sell off its holdings, which is the biggest uncertainty at the moment. Maintain a cautious, cautious approach during the day, look for short positions around the rebound near 81,800-82,500, and consider longs around 80,000-79,000.