$BTC Bitcoin surged higher then pulled back sharply, currently trading around 79,823. The price has broken below all short-term moving average supports, and the short-term bearish momentum continues to be released.

Resistance levels above are concentrated in the 80,200-80,600 range, with strong resistance at the previous high of 82,788; support below is first seen at the 79,669 level, and if broken, then around 79,000.
On the 1-hour chart, the price is rapidly declining along the short-term moving averages, with a clear downtrend. The short-term strategy is mainly to follow the trend with a bias toward bearishness. Rebound attempts may face resistance, and light short positions can be tried. It is not recommended to bottom-fish until a stabilization signal appears. #BTC回调