Key level: 80,600

Resistance above: 80,800, 81,200, 81,700
Support below: 80,400, 79,900, 79,100
BTC is now at 80,800, dropping from 82,000 since this morning, nearly losing over 1,000 points.
In the middle, it dipped to 80,470 at 11:30 and then stopped, in the afternoon it was hovering between 80,600 and 80,850, with no major moves.
Indicators are changing quickly, the 1-hour MACD has already flipped bearish, the 4-hour MACD is also close to a death cross, but the daily chart is still intact.
Position holdings have been decreasing, mainly because the bulls are cutting losses and retreating, and no new shorts have entered.
This kind of market tends to enter a low-energy sideways consolidation, waiting for the next wave of funds to choose a direction.
The key level has changed; the 82,000 level watched this morning is no longer relevant.
Now, the most important thing to watch is the 4-hour Bollinger middle band at 80,600, as the price has been hugging this line all day.
If it holds, there might be a rebound to around 80,800 or 81,200; if it fails, the low of 80,470 today will likely break again, and if it breaks further, it could head straight to 79,900.
If you hold short positions, whether in Bitcoin or Ethereum, using Bitcoin as a reference, the range from 80,470 to 80,800 is the profit-taking zone.
For longs, 80,470 is the bottom line; if it breaks, consider retreating.
The most critical point tonight is how the 4-hour candle at 20:00 closes; just watch this one.
Overall, today has shifted from bullish to bearish, but the energy is relatively low, more like sideways waiting for a direction.
The main structure of the daily chart is still there, so don’t be too pessimistic.