⭐ BTC Today's Market Update

Technical Analysis: Yesterday we mentioned that the key resistance level above is around 77,460. The price indeed surged to near 77,510 but was suppressed and pulled back, indicating that this level's resistance has been repeatedly validated by the market. However, the support at 76,000 has held for now, with the lowest reaching around 76,100, showing some buying support.
On the weekly chart: Last week closed with a bearish candle, with a long lower shadow indicating that bulls are trying to struggle. Although MACD shows signs of decreasing momentum, it is still below the zero line on the weekly chart and has not shown a clear sign of strength reversal. The current price remains in a correction phase after a high, and until the weekly chart re-enters a strong zone, it should be viewed as weak oscillation.
On the daily chart: Support is temporarily at around 76,000 below, with short-term resistance at 77,510—78,200. Until volume increases and the price breaks above this zone, rebounds should be seen as weak corrections.
On the 4-hour chart: A descending trendline has formed. Recently, the price has been suppressed twice by this trendline, but now it is attempting to break through. After a breakout, the target is 78,200. There is also FVG support in the 76,000—74,000 area, with recent dips being defended by funds, indicating that there is some buying interest here. However, the rebound highs are continuously decreasing, and each time the price approaches around 77,500, it tends to be pushed back, showing that the bears are still defending. Although the 4-hour MACD shows signs of recovery, the momentum bars are not strong, more like a technical rebound after oversold conditions rather than a trend reversal. The bearish structure has not yet been broken.
Today’s focus: Resistance above at 77,700 and 78,200, with a breakout target of 79,700. Support below at 76,300 and 74,200, with a break below targeting 72,800. Continue to short on rallies. $BTC #