05.18 Monday Morning

Bitcoin faced a sudden bearish attack in the early trading session, rapidly plunging and consecutively losing the two key support levels at 78,000 and 77,000, with the lowest dip near 76,000. Short-term bears concentrated their efforts, market panic spread, officially entering a correction phase, with over 100k liquidation in 24 hours, and capital fleeing to safe havens clearly evident.
4-hour timeframe: Moving averages are in a bearish alignment, MACD green bars continue to expand, downward momentum is strong, and the trend is clearly weakening.
Key breakdown: Previously volatile range was directly broken, support turned into resistance, and selling pressure above is heavy.

The "second wife" (a nickname for altcoins) is also weakening along with Bitcoin, with bearish moving average pressure, limited rebound, shrinking volume, and weak oscillation downward.

Bitcoin: Around 77,300–78,000, watch for 76,000–74,500

Second wife: Around 2,140–2,180, shorting at 2,090–2,030