Yesterday started from $76,800, with a slow rise on the spot market, reaching a high of $78,166 in the evening but encountering resistance.

• Intraday consolidation within a narrow range, with strong support at $77,500, moderate volume, and bulls in the lead.

• Key range: $76,800–$78,500, mainly oscillating and building momentum in the short term.

II. Technical Analysis (Key Levels)

• Support: $77,300 (short-term), $76,800 (strong support).

• Resistance: $78,200 (4-hour EMA120), $78,500 (recent high).

• Moving Averages: 1-hour EMA120/144 converging at $77,800, a battleground for bulls and bears.

III. Core Logic

1. Sentiment Recovery: Since the bottom at $76,000 on 5.19, the market has stabilized and rebounded for three consecutive days, with bearish momentum waning.

2. Institutional Support: Spot funds are flowing back in, with low-position chips being held tightly, selling pressure light, and support strong.

3. Macro Neutrality: Middle East tensions easing, US stocks strengthening, and risk appetite in the crypto market rebounding.

IV. Short-term Trading Strategy
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• Long: Light positions around $77,300, add on dips to $76,800, with a stop loss below $76,500.

• Short: Short positions can be taken at resistance between $78,200–$78,500, with a stop loss above $78,800.

• Breakout: If it stabilizes above $78,500, add on pullbacks, targeting $80,000.