At this position of BTC, many people actually misunderstood

If we only look at the rebound in the last few days,

many people might think:

has it already reached the bottom?

But if we look at the BTC daily chart a bit longer, the structure is actually very clear.

After peaking around 120,000, BTC has formed a very standard downtrend.

A panic sell-off occurred around 60,000.

That long lower shadow is actually a typical panic sell-off in the market.

Many leveraged positions were directly liquidated in that wave.

And the current market is essentially doing one thing:

digesting that wave of panic.

You will find that the recent trend is quite obvious:

BTC has been consolidating between 65,000 and 70,000.

This kind of market actually has a characteristic:

the volatility seems large, but the direction has not yet emerged.

This indicates one thing:

the market is currently trying to find a new equilibrium price.

The next most critical points are actually two positions.

The first position:

72,000—75,000

This is the resistance area for the recent rebounds.

If BTC can truly break above here,

the market sentiment will clearly recover.

At that time, the rebound potential might be opened up.

The second position:

63,000—60,000

This is the low point area from the previous panic sell-off.

If it breaks below here again,

it indicates that the market's panic sentiment has not yet fully released.

The price is likely to seek lower support.

So the current market is actually very simple; if it doesn't go up to 75,000, it's just a rebound.

Only by truly stabilizing at this position

can the market possibly transition from a downtrend to a consolidation structure.

The most common mistake many people make in this market is:

after a slight rise, they think the bull market has returned.

After a slight drop, they think the bear market has arrived.

But the real market often does not behave so extremely.

Right now, BTC seems more like it's waiting for the next directional choice.

And during such times, it is often the most boring phase before a big market movement occurs.

I have also been continuously observing several key price ranges recently.

If the market really changes,

the market rhythm could be very quick.

Sometimes, real opportunities often arise when most people have not yet reacted. @惊渔在带单