Recently, Bitcoin's trend is simple to describe but also complex. Let's not use those complicated technical terms, and just talk plainly about the current situation.

First, look at the big picture. From the weekly chart, Bitcoin previously retraced from above 95k down to below 65k, a pretty deep drop. But since April, the price has gradually climbed back up. Currently, it’s around the 80k mark, higher than the previous week, indicating that the medium-term recovery momentum is still there. Simply put, this isn’t a rebound caused by a “too much drop and a quick bounce,” but more like the medium-term trend is slowly recovering. As long as the weekly chart can stay firmly above 78k, the recovery upward pattern remains intact; but if it drops back below 76.3k one day, the recovery pace will slow down, and the market might fall into a long period of sideways consolidation.

Next, look at the daily chart. Currently, the short-term moving averages (5-day, 10-day, 20-day) are still in a bullish alignment, meaning the medium-term trend isn’t broken, and the price is still within a relatively strong framework. But note that the upward momentum is weakening—indicators like MACD, which measure momentum, have already turned negative, showing that the bulls aren’t as strong as before. Other oscillators (RSI, KDJ) are in relatively strong zones but not overheated. Overall, this means: the trend isn’t broken, but chasing the rally now isn’t very cost-effective; there’s a short-term need for consolidation or a pullback.

The current market state can be summarized as: medium-term bullish, short-term oscillating with strength. It’s not a one-way rapid rise, but a continuation of the trend during high-level consolidation.

Why say that? Recently, the last 20 weekly candles roughly divided into three phases: the high-level retracement at the end of last year to early this year, the deep bottom in February, and the ongoing recovery since April. This kind of movement is typical of a consolidation after a big rally, characterized by a slow process of rising and pulling back over several weeks to gradually restore confidence, rather than a quick V-shaped reversal.

Putting it all together, here are some key levels to watch:

81,800 above: Strong continuation zone, if it holds, the outlook remains positive.

83,200—85,200: Resistance zone, likely to encounter obstacles here.

74,600 nearby: Defensive trend level, if broken, the recovery pace will slow significantly.

65,400 nearby: Medium-term dividing line, if lost, the entire medium-term structure needs to be reassessed.

In summary: Bitcoin isn’t broken now; it has shifted from a “rebound phase” to a “high-level digestion of pressure” phase. The medium-term trend is still there, but currently, it’s better to treat the 80k USD level as a boundary between strength and weakness, rather than an area to blindly chase the rally. For medium- and long-term players, it’s wiser to watch more and act less, or patiently wait for a pullback to support levels before considering entering, which might be more stable than chasing highs.