From the daily chart perspective, Bitcoin is still in an overall downtrend.

But when we switch to the 4-hour cycle, we find that the market has already shown multiple resonance signals such as continuous oversold conditions + bullish divergence + touching the lower boundary of the channel. These signals directly triggered this wave of rebound.

However, in my opinion, this rebound is not a trend reversal; it is merely a technical correction within the downtrend.