Currently, Bitcoin is in the 79,350-79,190 range, repeatedly bouncing off without breaking below, which is not a coincidence. This level was previously a resistance point that Bitcoin failed to break through twice; only after a difficult breakout did it rise to 82,800. According to the support-resistance flip rule, the previous resistance has now become support, so it’s not so easy to break down.

But that doesn’t mean it’s absolutely safe; we can only say that holding this range keeps hope alive, and there’s a chance for a turnaround. If it breaks below, the downside potential will immediately expand. The 78,130 level on the hourly chart is the last line of defense; if the 79,000 range cannot be maintained, the 78,130 level will likely break as well. At that point, the hourly bullish trend will be completely gone, leading to a deeper correction, with a particularly large downside space. So currently, it’s crucial not to break below the support at 79,350-79,190.

$BTC Looking at the current trend, it’s not entirely broken yet. Both times it tested the lows downward, it didn’t break below 79,190; the second low was higher than the first, and there are signs of a double bottom on the hourly chart, so a rebound is likely. Moreover, the price has returned to the flag pattern range; as long as subsequent retests don’t break below the previous lows, the decline can be temporarily halted. However, to truly rebound, it must first break through the resistance at 80,380. After breaking that, it can continue to push toward 80,870 and 81,650. There’s no need to worry about recovering yesterday’s decline now; as long as it consolidates within the flag pattern range without further falling, that’s a good sign. Without any news impact, it will first oscillate within the range and then choose a direction.