1. Core Market Layout and Key Levels

Resistance levels (from top to bottom)

1. Short-term strong pressure: $78,000–$78,500 (20-day moving average, dense area of trapped positions)

2. Mid-term watershed: $80,000–$82,000 (previous range + 200-day moving average; an upside rebound is extremely difficult to break through)

Support levels (from top to bottom)

1. Short-term lifeline: $76,000–$76,500 (today’s low + 50-day moving average; a break below accelerates the sell-off)

2. Strong support: $75,000

3. Mid-term bulls’ defense line: $72,000–$73,500 (100-day moving average)

2. Technical Analysis

1. Daily: Pullbacks for multiple consecutive days; breaking below short-term moving averages; MACD green histogram bars widening; RSI around 40 is neutral-to-bearish, not oversold; downward momentum is still present. The medium- to long-term uptrend has not been fully broken.

2. 4-hour: Bearish pressure is evident; rebound highs keep slipping lower. A clear sideways-to-downward structure has formed, and sell pressure above the price is relatively heavy.

3. Market sentiment: Fear and Greed Index 27 (in the fear range). Spot trading volume is lackluster, and there is insufficient incremental capital. Funds are consolidating into BTC (Bitcoin), while altcoins are broadly declining. In the past 24 hours, there have been many leverage liquidations, and the battle between bulls and bears is intense. #30年期美债收益率突破5%