On the hourly chart, $BTC first showed a false breakout, then dipped below the previous low, triggering long stop-losses. Afterward, it broke above the trendline again, forming a real breakout and showing short-term strength. The pattern formed a bottom reversal + W bottom. With the 68700 support holding strong, it’s likely to see a short squeeze rally, challenging the previous high near 72000, before starting a new major downtrend.