⭐ BTC Today's Market Update

Yesterday we provided two possible trends:
If BTC breaks below around 78,000, it will weaken further in the short term, with the next support levels at 76,000 / 74,000. The second scenario is that there is support below, which will lead to a rebound and testing of the resistance above. It did not break down yesterday. The daily chart closed with a bullish candle, indicating that after testing the key support area below, there was clear support. It also returned inside the wedge channel, showing no further weakness in the short term.
The support below mainly comes from the Fibonacci 0.5 level around 78,800 and support from the Vegas channel, which did not result in a valid breakdown.
Currently, BTC has rebounded back above 81,000, so the short-term view is a rebound correction.
Key resistance above:
82,000—83,400
This is near the Fibonacci 0.618 level and also the third resistance of the Vegas channel, representing the first short-term resistance zone, a zone of multiple resonances. Resistance here suggests a potential short position.
Key support below:
80,600—78,800, with continued support to try a long position. $BTC