After Bitcoin found support around the $76,000 low yesterday, it tested the $77,300 area to the upside and then pulled back under pressure, trading in a tight range around this level throughout the day. In the evening, although it dipped slightly to $76,111 and then rebounded, the current price is still capped by the $77,000 integer psychological level, and the rebound strength is clearly limited. From the 4-hour chart, the price continues to trade below the Bollinger Bands midline (around $77,200), and the midline is sloping downward, exerting a significant suppressive effect. The short-term moving average system remains in a bearish arrangement; MA30 is pressing down near $77,300, forming dynamic resistance. The MACD’s two lines are located below the zero axis and are forming a converging dead cross. The green histogram is shortening, but it has not yet turned red, indicating that downside momentum has weakened somewhat, but bulls have not gained initiative. The RSI is hovering around 40, staying in a weak zone. Overall, the technical structure shows the characteristics of “weak repair in a low zone, with rebound encountering resistance.” The key resistance zone above remains at $77,000–$77,300; only if price can build volume and hold above this area can upside recovery room be opened to test $78,000. Downside support continues to focus on the $76,000–$76,100 area; if this level is broken again, the bears will move lower to test the $75,500–$75,000 range. In terms of trading, as long as the bearish structure is not reversed, the main approach remains shorting rebounds that run into resistance, and bottom-fishing should be done cautiously.