Today’s Bitcoin Trend and Trading Strategy

On the hourly chart, Bitcoin remains in a weak, oscillating downward trend. The price is continuously constrained by the middle band of the Bollinger Bands, with limited rebound potential, and the overall trend has not changed. The previous high of 79,300 has confirmed a phase resistance. Although there is some support around 75,500 below, the rebound strength is clearly insufficient. Currently trading near 76,700, this more reflects a correction in the bearish trend.

As long as the price cannot effectively hold above 78,000, short-term rebounds do not indicate a reversal. The key support below is at 76,000. If broken, the price will test 75,500 again, and potentially extend to lower levels.

The overall approach remains trend-following, with a preference for short positions during rebounds. Focus on the 77,500–78,500 zone for resistance, and look for opportunities to enter short positions. The targets below are around 76,000 and 75,500.