Bitcoin, with this kind of structure, going straight up is indeed very, very rare. In my understanding, the market will at least test the support around 69,500 again before continuing upward, meaning the middle band of the daily chart is supported, which could lead to a continued rise. But the market is never 100%; everything is a probability event. This kind of movement might have overlooked an important indicator—the funding rate, which was extremely negative. The squeeze on the shorts combined with news effects caused a strong surge.

Ultimately, the market still followed the early-month expectations. The inverted T after a continuous decline indicates a need for a correction, but I didn't expect it to be corrected in this way—rising sharply after a dip, then dropping back, and then climbing again. Yesterday's short sellers were basically wiped out. Based on the current pace, there is still room for the market to continue rising. Until clear signals appear in the short term, I won't consider shorting; recent developments may continue to push the price higher and test new highs.

The previous high of 76,000 is a level that everyone around the world will be watching. If there's a false breakout, it would be a complete replay of the previous decline structure. If such a move occurs, it would be a good trading opportunity. But given how quickly this oscillation has shifted, I think it won't be that simple. First, the monthly and weekly charts are both near the Bollinger lower band at relatively low levels, showing signs of a rebound. Plus, the daily downtrend line has been broken through (confirmation signal). So if this rebound is a trap, then breaking and holding above 76,000 would be the best choice.

Once the market confirms a breakout and holds steady, the sentiment will fully turn bullish, believing that the bear market has ended early. After a series of comments about chasing longs near the previous high, I will focus on the daily flag pattern's upper boundary around 78,000. If it encounters resistance there, and the timeframe is after May, I will attempt to re-enter long-term short positions. Because I believe the probability of a big drop this month is relatively low, I will wait until next month. Until then, I will remain more cautious.

In summary, in the short term, prices still have room to rise. Today, I changed my short-term view to a pullback to around 73,000. In the short term, targeting 75,000–77,600 is sufficient. The key resistance above is near 78,000. If it encounters resistance there, a long-term short position can be considered, but patience is needed at high levels, especially to be cautious of the market consensus, which is mostly a trap.