⭐ BTC Today's Market Update

The daily candle closed this morning at 77,322, and did not break above the 77,460 level we mentioned, so a false breakout above yesterday's high of 77,905 cannot be ruled out. Today’s market continues to be weak, with the daily chart remaining suppressed by the middle of the channel and validated by the Vagas validator. Although there has been some upward probing in the past two days, the body has become smaller, and trading volume has not continued to increase. The rebound is a correction, not a reversal. The funding rate shows that there are currently more long positions, which is bullish, but excessive bullishness could lead to squeezing, as the whales are trying to induce more longs. Today’s key level to watch is whether 76,000 can hold; if not, the price may continue to move down toward the lower edge of the daily channel. If it holds, a rebound is possible, with resistance around 78,400-78,600, which includes the previously mentioned futures gap and previous high resistance. The rebound is just a correction, not a trend reversal.

Resistance above: 77,500, 78,400

Support below: 76,000, if broken, look at 74,200. Today's outlook: Overall bearish with oscillation, do not chase longs. If the price rebounds to the resistance zone and encounters resistance, consider light short positions.