Bitcoin breaks below key support and rebounds, is it a trap to lure traders or the start of a rebound?

Ethereum loses an important level, the critical life-and-death line is clear, whether it breaks through or not will directly determine the future market trend!

Bitcoin first broke through the triangle consolidation zone in the early morning, then consecutively broke below the key support level of 80,350, approaching the support at 79,520.
Soon after, it was pulled back by a large bullish candle, regaining the 80,350 resistance level, and even formed a bullish pattern at a low point.

Subsequently, after breaking through 80,350, Bitcoin retested this level to confirm support was effective, again signaling a bullish trend.
Previously, a downward spike created a new low but quickly recovered, which is a typical trap to lure traders into false breakout, likely the main force grabbing retail traders’ chips below.
If they really wanted to crash and drop the price, there would be no need to pull it back up again.

$BTC As long as Bitcoin can break through the triangle zone, the resistance at 81,600 above will also be broken.
After breaking this level, it can push towards several previous highs.
Whether it can break new highs later depends on the market’s movement; as long as today’s price doesn’t fall back below 80,350, there’s little risk.
If it falls back, it’s likely to test the early morning spike low again.
This rebound is best if it can break through the 82,000 previous high.
Only by stabilizing above this level can there be a chance to hit new highs.
If it cannot break through, the hourly chart will still show a weakening trend with lower highs.

$ETH Ethereum still looks like an helpless husband, directly breaking below the 2,300 level, with the lowest dropping to around 2,250.
Now the key is whether Ethereum can return above 2,300.
If it can stay above and break through the 2,320 resistance, the target at 2,350 may be within reach.
If it only hovers around 2,300 without breaking through, it’s likely to fall back to around 2,250.
Currently, 2,300 is Ethereum’s critical boundary; staying above it means a stop to the decline and a rebound, but if it cannot stay above, it will continue to weaken!