The price of $BTC initially broke below the previous low but quickly recovered, moving further upward to form a bullish solid green candle. This indicates that bullish momentum is likely to strengthen further. Currently, we’re at the start of a new lunar cycle. If a strong bullish daily candle is formed, we could see a short-term rebound in the market. Since June 25, the market has been consistently testing lower levels. This time, the 'break below previous low + quick recovery' structure is a textbook signal for stabilization, serving as the core technical indicator for a short-term rebound. Short-term logic: After the liquidity of bears below has been cleared, the price has the momentum to test previous highs. Funding rate constraint: The current funding rate remains high, indicating that there are many long positions. Under this kind of funding structure, it’s difficult for the market to sustain a large-scale rally. Key resistance zone above: 60800-61300. The market has tested this zone multiple times but failed to hold above it. This morning’s spike was just a false breakout (a wick), as selling pressure remains heavy above. Only if the price effectively breaks through the 60800-61400 resistance zone and stabilizes after a retest can it be considered a bullish reversal signal. If these conditions are met, the bullish target would be around 67000.