From the chip structure perspective, $BTC short-term key levels for the market trend

Currently, BTC's price action is interpreted as a mid-term bullish trend actively 'pulling back to create space': temporarily abandoning the front lines, consolidating positions, and accumulating strength while finishing chip recovery at lower levels.
Once the accumulation is complete, the market structure may change—from the original tug-of-war between bulls and bears to the bulls reorganizing their advantageous chips, waiting for the right moment to launch a counterattack.
As it stands, the key levels are quite clear:
The bullish baseline is around 74500. If this level is lost, the market will likely shift to a one-sided downward trend; meanwhile, the 77259–77531 range is currently the main energy accumulation zone, which can be understood as the core area for bulls to repeatedly rotate and build momentum.
The bearish defense focus is at 78400, which essentially corresponds to the upper edge of the recent two rounds of accumulation. If the price effectively breaks through here, the pressure structure will be shattered, and the market will have a high probability of extending upwards rapidly, potentially even hitting new highs.
74500 is the line between life and death; it cannot be breached; 77259–77531 is the current zone of fluctuation and buildup.
Looking upwards, as long as we consistently break through 78400 and 79200, the upper space will be reopened, entering a new phase of upward attack. This aims to fill the CME gap, which is around 80000.