Monday afternoon, Bitcoin recap: a sharp sell-off from high levels—bearish trend is already showing

Bitcoin surged and hit 79,455, then rapidly dumped, directly breaking through short-term moving average support. From 79,000+ it was slammed down in one go to around 77,500. The bulls had absolutely no follow-through at the high—this isn’t a normal pullback; it’s a clear signal that funds are fleeing.

Short-term moving averages have already turned downward, and price has continued trading below the moving averages. Every rebound is met with selling pressure and rolls over, indicating the bears have completely dominated the market. The 79,000–80,000 high levels that we repeatedly warned about before indeed turned out to be a stop-hunt for breakout buyers. Those chasing longs have been cruelly harvested by this sharp sell-off, and our high-level short positions have already smoothly captured the first wave of downside profits.

Next, the approach is very clear

Trading suggestion: For aggressive traders, short directly at the current price of 77,590. For more conservative traders, short around 78,000–78,500, targeting 77,000–76,000. If it breaks below 75,000, the long-term target is 74,000. For defense, decide based on your own position.
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