Where is the high point of this BTC rebound? First, let's give a conclusion: BTC currently has three levels: -$67000: The first level of whether the rebound can continue; -$71100: Confirmation line for upgrading rebound to medium level trend repair; -$77000: The location where major level reversals truly require acceptance. BTC has rebounded over 15% from its low of $57800, and its short-term moving average has begun to turn upwards. The price has also returned to above the cost range of $61010 to $65000, indicating that panic selling has significantly eased. But 'stopping the decline' does not mean 'reversing'! BTC is currently testing $67000. This is an important price memory level after falling below it in the early stage, and it is also the location where transaction intensive areas and medium-term moving average pressure are superimposed. Last night, it surged to $66956 and then fell back, indicating the existence of real selling pressure in the region. So, the key is not whether you can briefly reach $67000, but whether you can complete the price acceptance: The daily chart closed above $67000, unable to break through, and at the same time, the improvement of fund flow and the rebound of Coinbase BTC premium indicate that buyers are willing to buy at higher prices. If established, the rebound target will naturally shift towards $71100. But even if it stands at $71100, it cannot be directly defined as a high-level reversal. Because $71100 is more like an important repair level in this round of decline; The truly larger chip concentration area and preliminary structural pressure are still around $77000. Only by recovering and holding $77000 can the market complete the structural transition from "technical rebound after decline" to "trend reversal". At present, there is still a net outflow of active BTC spot funds, and Coinbase BTC has maintained a negative premium for more than two consecutive months, indicating that this round of rise has not yet been confirmed by strong spot funds and is closer to price repair rather than a completed trend reversal. Next, we will only look at three paths: one ⃣ $ 67000 continues to be blocked: the rebound high is likely to fall between $67000 and $68000, followed by observation of support between $65000 and $64000; two ⃣ Standing firm at $67000: rebounding and upgrading, looking for $71100 as the next target; three ⃣ Recovering and holding back $77000: Only then are we eligible to discuss a larger level of trend reversal. The true high point is not predicted. It appears in places where buying is unwilling to continue chasing higher prices, where the chips above are concentrated and redeemed, and where new funds cannot be transferred. Now, BTC is undergoing its first test of $67000. Non investment advice, DYOR。 BTC chip distribution