Assuming Bitcoin's rebound point is at 76,000, based on the 60k starting point for BTC, then the drop from 76,000 to 65,000 is the first wave of decline. The movement from 65,000 to the present is a rebound against the decline from 76,000 to 65,000. Currently, this rebound has met the basic requirements, and after it ends, BTC will continue to decline. This is the scenario depicted by the blue route in the chart, and also the route I believe has a higher probability.

Yesterday, some friends mentioned that since BTC has not fallen below 65,000 after reaching 4.2, an even higher peak above 76,000 cannot be ruled out. Strictly speaking, this cannot be completely ruled out at the moment, and this is the main difference between the red and blue paths. However, their common point is that the subsequent trend will be the same. Smart friends will look for the commonality between the red and blue routes in the chart to plan their trades.