Bitcoin has experienced a decent rebound on smaller timeframes, but it is currently too early to determine if this marks the beginning of a strong upward trend! The next key level to watch is around 72,000—specifically, whether the first wave high can be effectively broken. Only a volume-driven breakout above this level can confirm whether this move is a short-term rebound targeting the 74,000 barrier or the start of a new upward wave. Additionally, it must break through the previous high’s false breakout point in one go to form a complete bullish structure. Conversely, if it fails to break 72,000, the current rally is merely a normal rebound within a consolidation zone, and there remains a risk of decline in the future.