In an ideal scenario, the decline starting from 76,000 would be viewed as a pullback, and after the pullback ends, there would be another upward movement. The entire rebound that started from 60,000 would end in late March or early April, followed by a decline.

However, everyone should pay attention to one issue—BTC experiences numerous false moves before each major market trend begins. This includes but is not limited to deep pullbacks that make people think there are no higher highs and it will drop directly, rallies close to 76,000 that fail to break the high and drop immediately, rallies to 78,000 or 79,000 that make people think there won't be a drop before suddenly crashing......

Which scenario actually occurs depends entirely on the liquidity situation in the market. The reason the price action has become so drawn out recently is largely due to liquidity accumulation.

There are many possibilities at the smaller timeframes, but the major trend is certain. At this critical juncture, we only need to remember one thing: we are currently in the late stage of the rebound, and after the rebound ends comes a new decline. Then we leverage the advantages of Gann Theory—focusing on time as the primary factor. By the end of this month and early April, regardless of whether it breaks 76,000 or not, I need to look for opportunities to short. This downtrend short position is one of the few certain trading opportunities in the first half of this year.