The BTC upward channel and wedge structure have both been broken. Overall, it has entered the downward phase following the end of the adjustment. This adjustment cycle is nearing its end. Be cautious of a rebound testing the downward trendline before continuing downward. As long as the downward trendline isn't broken, the outlook remains bearish. Major cycle pullback target: $45,000. If it breaks below $60,000, next target: $57,200. Waiting for signals (patience is key): 1. Long conditions (cautious): - First, break below the previous low → then quickly recover. - A strong bullish candle on the 1-hour chart with high volume, no pullback. - Target: upper resistance zone. 2. Short conditions (cautious): - First, a false breakout upward → then drop back down. - Enter after confirming the breakout failure.