Looking at the BTC liquidation chart, there's a large accumulation of chips below. The structure indicates that the downtrend is likely not over yet. The current market looks more like a continuation of the downtrend rather than a reversal. Right now, the rebound has reached the 77k zone. The essence of the rebound is clearing out short positions and hesitant funds above. Once this liquidity is absorbed, the trend will likely move downward again, aiming to break through the larger liquidation zone below. Overall, the rhythm seems to be a rebound first, followed by a sharp drop, rather than a direct V-shaped reversal.