Thursday Afternoon Bitcoin, Jing Yi's Thinking

Bitcoin is currently in a high-level consolidation with intensified long and short battles, surging briefly then facing resistance and pulling back, with increased intra-day volatility. Selling pressure gradually appears above, while buying support remains below. Overall, no clear trend has emerged, indicating a high-level sideways market. The hourly chart shows repeated probing and quick shifts between bulls and bears, with spot prices fluctuating sideways.

The daily chart shows alternating small bullish and bearish candles, indicating a consolidation pattern after an upward move. Multiple attempts to test resistance levels have failed, forming signs of a double-top pressure in stages. The 4-hour chart shows frequent probing up and down, suggesting major players are clearing short-term follow-the-market positions, with obvious shakeout actions.

First short-term resistance: 80,500–80,800 (4-hour moving average + chip pressure zone, the first hurdle for a rebound)
Second strong resistance: 82,700–82,900 (intraday high + Bollinger upper band, double-top pressure during this rebound)
Trend dividing line resistance: 84,000 (standing firm here indicates a return to a strong bullish trend)

Short-term support: 78,500–78,800 (first defense during intraday pullback, a break below indicates short-term weakening)
Second key support: 77,800–78,000 (bulls' lifeline)
Ultimate strong support: 75,300–75,500 (Bollinger lower band + medium-term trend support, a break here leads to deep correction)

If the rebound does not break 80,800, the short-term outlook is bearish with a pullback expectation. Hold above 77,800, and the larger bullish structure remains intact. If it falls below 75,300, it directly shifts to a sideways decline mindset.