After the positive impact from the extension of the agreement between the US and Iran, Bitcoin briefly surged and topped out at 79,500, but the rally couldn’t be sustained—then it pulled back. Yesterday, three waves of shorts were given, which was regrettable for missing one wave, but two waves of longs were okay.

At the moment, the market is fighting over a core area and is showing the typical signs of weak upward momentum, but with support below. In the short term, keep an eye on around 78,500, which is a dense trading area over the past 3 days with a large amount of orders stacked there. If there is a rebound into this range but it fails to break through, you can consider trying shorts on a short-term basis; conversely, if it gains volume and holds steady above it, then look for a bullish move into a higher range.