Bitcoin's price dipped to around 78900 yesterday and then experienced a strong rebound, soaring significantly overnight, with the price shooting up to around 82000. This wave of increase accurately retraced and rebounded to reach the target, directly achieving a remarkable result.

From the current market situation, the price is overall in a broad oscillation within a range. It is likely that the price will continue to go lower. As mentioned before, a drop signals a bullish outlook, so now we just need to wait for the price to test support before entering long positions.

The four-hour candlestick chart is showing a range-bound rhythm within the Bollinger Bands. After touching the upper band yesterday, it has consecutively formed bearish candles. It is now about to test the middle band support. If it breaks below, the price will continue to retract to around 78800, which will then present an opportunity to enter long positions and go bullish.

Therefore, in the afternoon and evening, the strategy can be to wait for a pullback to the 79000-79300 area to gradually look for bullish positions, targeting around 81500-82000. The price levels are for reference only.

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