On Wednesday morning, Bitcoin first stabilized around the low of 80,364, quickly rebounding as it relied on support from the lower band. It then surged to a high point of 81,268. After that, it began to ease off under mild pressure and pull back for consolidation. Overall, the price has held above the high of 81,268 and remains stable above the 81,268 line, returning to around 81,100 for range-bound movement. At present, the net bearish indicator continues to decline: bearish strength is fading, and in the short term bulls and bears are in a standoff near the 81,100 level.

From the perspective of the past four hours, the current price action is trading between the middle band and the upper band. The middle band at 81,000 forms short-term support. The previous low at 79,801 rebounded, and the subsequent drop showed shrinking sell volume; the net-bearish data also indicates that bearish pressure has weakened. If the price can hold above the middle band and break through 81,700 with increased volume, there is still hope to test the resistance zone at 82,800. Since we can maintain a bullish outlook on the four-hour timeframe, but if it breaks below 80,600, the direction will need to be adjusted again.

Bitcoin retraces to 80,400-80,700; consider going long. Intraday target: 82,500.
Ethereum retraces to 2,260-2,280; consider going long. Intraday target: 2,380,018,283,746,565,748,392,010,192,837,465,657,483,923,201.