Friday early session, Bitcoin’s momentum is still mostly range-bound, and the upside suppression is beginning to show—so for the day, the priority is to consider taking shorts from high levels.

Looking back at yesterday’s price action, overall it didn’t break out of a single-direction move; it continued to tug back and forth within a range. The high is around the 78,600 area, and the low is near 76,500. Both bulls and bears have room to play, but it has never managed to break the sideways structure. Right now, the price has returned to around 78,000 for consolidation, with sentiment showing a hint of hesitation.

From the four-hour structure, although overall price is still operating within an upward channel, the resistance around the 79,400 area is clearly a pressure point. The pullback after the rally is a normal form of correction. The current price is trading between the middle and upper bands of the Bollinger Bands, but upside momentum has already started to weaken, and rebounds on smaller timeframes are gradually losing steam.

As for technical indicators, after the MACD sticks together at high levels, there is an expectation of a death cross, and momentum is starting to weaken. The KDJ three lines diverge downward; short-term bearish signals are gradually being released, indicating that there is likely still a further pullback window during the early session.

In terms of execution, for today, continue to focus on shorting around rebounds. Watch the 78,400–79,000 range for staggered entries into short positions. For the downside, first look at 77,000, and then the 76,000 area. The overall idea is: as long as the upside resistance is not broken, rebounds are an opportunity to short.
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