From a technical perspective, the market has clearly shifted to a bearish pattern. After briefly touching $78,000, the price faced strong selling pressure and quickly retreated, forming a prominent upper shadow, indicating very strong resistance above. The current price hovers around $76,800, having broken below the short-term key support zone ($77,200-$77,500), and the market structure has shifted from strong to weak.

Momentum indicators also confirm the increasing bearish momentum. The pullback was accompanied by increased volume, and the RSI has fallen below the 50 midline, showing that short-term momentum is turning from bullish to bearish. If the price cannot quickly recover and stabilize above $77,500, it will further confirm the dominance of the bears, likely testing the previous support levels at $76,000 and even $75,500.
Overall, market sentiment is cautious, with a lack of buying enthusiasm. The trading strategy should focus on defense and shorting on rallies. A rebound to the $77,200-$77,500 zone can serve as a key observation point for potential renewed bearish pressure. Medium- and long-term holders should closely monitor the core support at $75,000; a volume-driven breakdown below this level would indicate an increased risk of deep correction. $GT