Bitcoin surged to the 78,000 level in the late evening yesterday but failed to break through and continue rising; instead, it pulled back and tested support, dropping to around 75,400 by early morning. Overall, the market is still in a regional fluctuating pattern.

On the four-hour level, it belongs to the medium-short trend cycle, where the K-line has formed four consecutive bearish candles and has fallen below the lower trend line. Currently, this K-line has turned bullish and is forming a lower shadow; if it closes as a bullish candle shortly, the bullish signal will become evident. The current level of 75,300 is the 'line of life and death.' If the price effectively breaks below this level, the downside potential will open up. The current price is near the support point and is also a potential area for a stop in recent declines, so a short-term rebound can be expected.

It is suggested to look for bullish positions around 75,600 now, with targets aimed at approximately 76,500-77,200. The levels mentioned are only for reference and do not constitute specific investment advice.

Follow the public account, which resolves worries only with Jiang Wei, an analysis blogger with high emotional value, offering free trading teaching. It brings stable strength and clear guidance in the restless trading market, having navigated through three cycles of bull and bear markets and years of practical trading experience, specializing in naked K, trends, Dow Theory, Gann, harmonics, Chan theory, wave theory, and other technical analyses, consolidating unique insights.

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