Since dropping on February 6, Bitcoin has been consolidating in a wedge pattern for nearly two months.

The long-term cycle remains in a downtrend.
My personal view is that the crypto market is in the mid-stage of a bear market.
Currently, it is a continuation of the decline, not a trend reversal.
The trend line has not been broken; look for bearish signals at key resistance levels.
This morning's breakout with increased volume following the ceasefire news was mostly a false breakout.
This is a trap to lure long positions, aiming to liquidate high-leverage shorts at the bottom.
In the short term, the false breakout above 69,300 will turn downward.
Today, you can consider shorting at 69,300 and at 2,147 for a scalp.
Every major rally in a bear market is quickly followed by a sharp decline.
Every breakout in a bear market is a false breakout.
A false breakout lasts for a day, then a prolonged decline follows (Chen Jiaguan).