1.20 Market Analysis: Has the Rebound Ended?

1. Starting from **December 18th**, **BTC** entered an upward channel. Although we can see that the highs and lows are continuously rising, we also notice that the pullback is quite significant, and the trading volume appears to be slightly sluggish. Overall, this is a rebound of low intensity; from a long-term perspective, it still belongs to a secondary pullback within a major downtrend.

2. In the short term, the price has once again returned to the lower boundary of the channel. This position is usually not easily broken, and it can easily form a rebound trend; the key moving forward is to observe the strength of the rebound.

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