Bitcoin Price Action: A Volatile Landscape*

Yesterday, Bitcoin's price oscillated between a high of $84,751 and a low of $81,150, reflecting the ongoing volatility in the market. Currently, the cryptocurrency continues to fluctuate within the $80,000-$85,000 range, as investors and traders navigate the uncertain terrain.

*Downward Trend Persists in Major Cryptocurrencies*

A closer examination of the market reveals that Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) – the three leading cryptocurrencies – have all established a clear downward trend. This bearish momentum has resulted in a weakening of the overall market's bullish strength, indicating a potential continuation of the downturn.

*Market Outlook: Rebound and Correction Before Further Decline*

In light of these developments, the judgment that the market will experience a rebound and correction before continuing to decline remains intact. This suggests that investors should be prepared for a potential short-term recovery, followed by a resumption of the downward trend.

*Technical Analysis: Next Support Level*

From a technical perspective, the daily chart reveals that the lowest correction price of $82,716.49 has been broken again. Consequently, the next support level is expected to emerge near the Fibonacci 0.5 level, which is approximately $78,670. This level may serve as a crucial pivot point, influencing the future direction of the market.

In summary, the current market analysis suggests that Bitcoin and other major cryptocurrencies are likely to continue their downward trend, with a potential rebound and correction before further decline. Investors should remain vigilant and adapt to the evolving market landscape.