This wave of rally from 77,700 directly to 79,455 is a genuine trending market. The moving averages are in a bullish alignment and have remained steady before the sharp decline, indicating that large institutional long positions haven't been moved. This sell-off is essentially short-term profit-taking, a typical shakeout, not a trend reversal.

The 77,000 level below is a key support from the previous consolidation zone and also the lower boundary of the Bollinger Bands. The price has shown clear signs of stopping its decline here, with the selling pressure rapidly clearing out, and a bullish rebound could start at any time.

Professor Gu's personal advice remains unchanged from the morning: go long within the 76,500-76,000 range, with the stop-loss below 76,000, and target the 78,000-79,000 zone above. $BTC