BTC woke up to another big bullish candle, breaking through 69,000. Is the bull market returning? Is 60,000 the bottom and no longer going to be broken? Don’t be fooled by illusions; a major decline is still brewing...

First, I want to clarify my stance again: 60,000 is not the bottom. Don’t start shouting “bullish” just because prices are rising. The true bottom will probably not appear until the second half of the year at the earliest. Don’t keep saying “this bottom” or “that bottom” just because prices are going up. I’ve said this many times before, including during this recent rally. I’ve repeatedly emphasized in the community that the new wave of decline won’t come so quickly, mainly because the time cycle isn’t enough. I expect the decline to start within this week or before the 18th. Right now, the rebound is not a reversal; it’s actually the best opportunity to set up short positions.

Now, let’s look at the market situation. Today, BTC rebounded to around 69,500, forming a parallel top with the 69,200 level. Actually, this kind of parallel top is the easiest to break through. If there’s a pullback to around 67,500–67,800 and it holds, there’s a possibility of breaking above 69,000 and surpassing the parallel top. The next target would be to fill the gap near 70,200. If it can’t hold, then Monday could be a false move, tricking the bulls. So, this is a good place to set up a short position, at least to catch a pullback. Of course, there’s also another parallel top and gap above—at 72,000 and 73,000 respectively. That means whether it ultimately breaks through 69,000 to fill the 70,200 gap or breaks through 72,000 to fill the 73,000 gap, the market will eventually decline, and it will be a significant drop. The current rebound looks more like a good opportunity to reverse and short rather than a genuine upward move. Everyone should seize the long-term shorting opportunity. #假期持币指南