According to the OKEx spot display, as of the start of the European session, BTC temporarily reported at $ 7887.1 (1.60%). Yesterday, BTC once bounced to $ 7,635 and quickly rebounded and stood at $ 7,700 support. It entered the consolidation trend within the day and there is a possibility of rebounding and breaking above $ 8,000. OKEx analyst Neo believes that due to the growing panic in the current market, short-term and wait-and-see retail investors have also increased. Without this part of the investment, the main long-term funds are difficult to profit, which will affect the willingness to pull, so The rebound may stand up to $ 8,000 for a short time but it is difficult to directly break through the strong resistance of $ 8,250. If the currency price drops again and tests around $ 7,700, the market may form a double bottom. We can expect a further rebound. If a double bottom is formed, a rebound It can break through $ 8,250, and the possibility of recovering the previous decline is high. Without breaking or three bottoms, the trend will continue to fall and test the bottom of last year. Investors are reminded to pay attention to the validity of the $ 7,700 to $ 8,000 range. Risk Warning: There are risks in entering the market, and investment should be cautious.