Bitcoin's performance yesterday showed a weak pattern of "plunging through support, weak rebounds, and probing new lows": after briefly testing $78,400 in the morning, it suddenly dove, breaking through the original support level, with the lowest point reaching around $76,600, and the white session maintaining sideways weak consolidation. Although there was a rebound driven by news in the evening, the upward momentum was clearly insufficient, rising only to around $77,750 before facing resistance and falling back again; during the early hours, the bears continued to exert pressure, with the lowest point probing the $76,000 level, creating a new low for this correction, currently consolidating slightly around $77,000. Technically, the 4-hour chart has formed a clear downward channel, with highs gradually decreasing and lows continuously shifting lower, the moving average system showing a bearish arrangement, MACD forming a death cross and diverging downward, RSI hovering around 35, and rebounds repeatedly blocked by short-term moving averages. The $76,000 level below has become a key short-term psychological support; if it breaks with increased volume, the downside space will further open up to the $75,000–$75,500 range; resistance above has shifted down to the $77,500–$78,000 zone. In terms of trading strategy, until the bearish structure is reversed, it is advisable to mainly short on rebounds or wait and see.