Great job. On the weekly chart, BTC last week formed a large bearish candle, breaking below the upward trend line. This week’s weekly chart shows a doji pattern; after a pullback near 76,000, a long lower shadow appeared, suggesting that there are signs of buying/absorption in this area and that selling may be running out. The weekly chart is still within a large-scale consolidation structure. The current key resistance zone is in the 79,000-80,000 area. After falling to the critical neckline of the W bottom, there was a slight rebound. Only if it breaks through and holds above 80,000 could the weekly trend potentially strengthen again. The core support below is still around 76,000 (the W bottom neckline + the middle band of the ascending channel). If it breaks below 76,000, then attention should be given to support near 71,500 (the lower band).

MACD, RSI, and CCI are showing signs of weakening upside momentum.

On the daily chart, yesterday closed with a doji. The daily chart is entering the “rebound confirmation stage,” and short-term sentiment has seen some improvement on the long side. A single M-top pattern has formed, and it has already broken below the M-top neckline. Key resistance levels above are 78,000-79,000-80,000 (chip entrapment + neckline resistance + Vegas channel resistance). Key support levels below are 76,000 (neckline support) and 71,500 (lower band). As long as it does not break these key levels, it is still operating within the large-scale ascending channel. Breaking above 79,000 could form a reversal, while rejection should still be viewed as a weak rebound after a decline. The daily MACD and RSI show bearish crossovers to the downside, which is unfavorable for a rebound.

In the short term, focus on the 4-hour level; short-term opportunities are waiting to be seized.

$BTC