After the daily $BTC surge, it entered about two weeks of range-bound consolidation. The fluctuation range is gradually narrowing, and the market is highly divided—some believe the bull market is back, while others expect one last drop. Comparing historical bull market starts: Before this round of growth, there wasn’t a prolonged period of negative funding rates, nor sufficient bottom accumulation or low-volume processes. These conditions differ from previous bull market beginnings. Right now, there’s no need to rush to conclude whether this is a major bull market—wait for confirmation of the pattern before entering. The later stages of a bull market still have significant room for growth, so don’t fear missing out. Currently, we’re in a narrow consolidation phase after the rise, with intense long-short battles. The first breakout is highly likely to be a false breakout. Focus on observing two price behaviors: a quick recovery after breaking down (test long) / a pullback after breaking up (test short). Short-term support is at 75,600, where a large number of long stop-losses are concentrated. Extreme effective breakdown support: 67,000–68,000. If it effectively drops to this range, the previous upward structure will be disrupted. For now, you can still short at 78,500, add positions at 79,200, and set a stop-loss at 79,800.