Pulling back 50% to reach the life and death line, is the current 66k near the bottom or a falling intermediate? Combining the weekly chart and Q2 macro liquidity expectations for the US stock market, let's talk directly about the core logic and next operational plan. (1) Chart logic: Classic support testing and chip game The three red circles in the picture represent a very standard "suction distribution retest" structure. At present, the price has accurately hit back to the "chip intensive starting area" of the previous round of market trend on the left. This position is the stronghold of the bulls in the early stage, and technically, it has fallen back to break through the previous box, often accompanied by strong buying support. Holding here, the profit and loss ratio is extremely high. (2) Macro level: Focus on the overflow of liquidity in the US stock market The Q2 cryptocurrency market is deeply tied to the Nasdaq, currently at the end of the interest rate cut game and the US stock earnings season. If the US technology stocks experience high-level volatility or capital profit taking, this overflow of risk appetite funds is highly likely to flow back to the cryptocurrency market that has already "fallen out of value for money". As long as there is no systematic collapse in the US stock market, BTC, as a high-risk asset, will be the first to experience valuation recovery in Q2. (3) Q2 script and transaction deduction Expected trend: Repeated fluctuations in the 60k-70k range in April, cleaning up high leverage, confirming the bottom, and starting an upward repair in May and June, even with a faster pace! • Entry range: 62K-66K (build positions in batches, take left side chips) • First objective: 85K-90K (pressure level in the upper vacuum zone) Defensive bottom line: The weekly entity falls below 58K (once it falls below the unconditional stop loss, the long-term logic is invalidated) A big rebound is often nurtured in despair and deep adjustment. At the 66k level, the profit and loss ratio has already been calculated. When it's time to be greedy, don't get washed away by a bearish trend. The logic of bull bear transition is fast, and a bull rebound only requires a big bullish line!