Bitcoin: Native breaks above 65000 again, is this a real rebound or a liquidity game? The surge from the weekend to Monday has indeed made many bears doubt their lives, but it cannot be simply understood as' not falling is strong ', and it should be seen from the underlying financial structure. Weekends and Monday morning trading belong to the traditional stage of weak liquidity of funds, where the market depth decreases and prices are more easily driven by funds. This rebound along the 4-hour upward trend line has two short-term purposes: Firstly, clear out the short chips that have been pre positioned; Secondly, recreate the bullish sentiment in the market and attract bearish funds to re-enter. But this does not mean that the upward logic does not exist. From the current market environment, the technology sector of the US stock market remains resilient, with expectations of interest rate cuts trading ahead of schedule. There has been no significant withdrawal of funds from risk assets, and ETF funds and institutional allocation are forming important support below BTC. The repeated occurrence of consolidation in the 63000-64000 region indicates that the market is not solely driven by individual investor sentiment, but rather by funds maintaining this volatile upward structure. From a technical perspective, the 4-hour upward trend line is still valid, and the price quickly rebounds after each retracement of the trend line, indicating that the bulls have temporarily taken the initiative. But the key issue is whether the 67000-68000 region can break through with a large volume. If it breaks through and stabilizes, the market may further open up upward space and challenge around 70000. But if the trading volume is insufficient during the process of rising, it will be more like a rebound after clearing short positions, and the market may still retrace to the 63000 or even 62000 area to complete the wash. Multi head observation area: 63500-64000 Defensive position: 62800 fell below trend disruption Target above: 67000-67500 The easiest mistake to make now is to assume that the market has completely reversed just because it hasn't fallen for a few days. The true trend of the market is not determined by a bullish candlestick. Check whether funds continue to flow in, whether key pressures have been overcome, and whether retracement has been accepted. Trading is not about predicting every candlestick, but preparing for different scenarios in advance before the market gives an answer.