🪐 Chaos begins to unfold, and the universe remains uncertain The following chart shows BTC's 2966 day monthly upward channel at the line level. After 8 years of backtesting data verification, the market will experience varying degrees of unilateral trend whenever the price touches the upper, lower, and middle tracks of the channel Since the end of 2022, when the price hit the lower edge of the monthly channel, this bull market cycle has officially begun. The unilateral upward trend of the past three years has been suppressed to varying degrees by multiple times when the price touched the mid track near the monthly line As shown in the figure, after Bitcoin touched the monthly mid track for the first time in this bull market cycle, it was suppressed by the first trend and experienced a 215 day channel decline, completing a high-level turnover and a new round of fundraising Then continued to attack the mid track of the monthly line but failed, followed by a second round of slight correction and another unsuccessful attempt to climb, forming an M-shaped top structure and initiating the third round of a 79 day downward trend Subsequently, a wedge-shaped bottom reversal structure was formed, and a fourth round of upward attack was launched, with the highest price reaching 112K and also creating a new historical high price But at the same time, prices are once again approaching the mid track of the monthly line, and the upward trend in prices is once again suppressed Conclusion: In this cycle, Bitcoin has gone through four upward movements towards the mid track of the monthly line, and has now formed an M-shaped top structure near the mid track to suppress the situation. This structure needs to effectively fall below the 76K line to confirm the end of this bull market cycle. However, if it can maintain above 76K, the price will continue to rise towards the mid track of the monthly line to maintain the bull market cycle ❄️ Winter is approaching or Nirvana is reborn As shown in the figure, the following chart shows the weekly upward channel of Bitcoin. The important support ranges below are currently located at 97K, 92K, and the lower edge of the weekly upward channel Since the beginning of June, the difference in trading volume has shown that (previous tweets have conducted specific analysis on trading volume) https://(x.com)/PPai_Crypto/status/1935279910417060217） Selling always dominates, buying volume can continue to shrink, and price performance currently maintains a fluctuating downward trend So the overall price performance is relatively weak, and overall, the short-term trend is not conducive to bulls. The focus of the development of the subsequent trend is on the support range mentioned above, and the lower edge of the channel is particularly important. Once the lower edge of the channel is lost, there is a high probability that it will fall below the M top neck line of 76K and eventually end this bull market and start a bear market The current price range of the lower edge of the weekly level channel is between 83K and 90K END.