[Secondary decline still ongoing, support and resistance clearly defined]

Since dropping rapidly from the high of 78,560.4, a series of large bearish candles directly broke through the Fibonacci 50% and 61.8% key retracement levels, with downward momentum fully released, offering little resistance, and the downtrend once dominated.

After falling to the low of 76,000, the price entered a stabilization and rebound phase, with multiple red and green candlesticks repeatedly tugging near the 61.8% retracement level, and trading volume simultaneously shrinking.

The southward momentum temporarily exhausted, selling pressure eased, but the northward attempt was also unable to break through the key resistance, resulting in a typical downtrend consolidation and oscillation.

If the key resistance at 77,500 remains under pressure and cannot form an effective breakout, there is a high probability of a second decline to the low of 76,000.

Once this support is broken, the downtrend will continue, with the next target at the 78.6% retracement level of 75,500. #比特币