From a daily chart perspective, Bitcoin's price action showed a bottoming out and rebound after breaking below the previous low. The current rebound is relatively strong, but it's about to encounter resistance from the short-term moving average, which is also near the 80,000 mark. If it fails to break through and hold above this level, a pullback is likely, leading to a second retracement. Therefore, chasing the price near 80,000 is not recommended. #Bitcoin #BTC