Bitcoin is still in the falling channel, but the 62,000–62,400 zone has repeatedly generated clear buying reactions. The fact that the price continuously retreated at the lower border shows that the selling force is being absorbed and this area is still a notable support base.

I prefer to wait for BTCUSD to adjust to the bottom of the channel, then the H2 candlestick appears to refuse to decrease and regain the 62,800–63,000 area. Once confirmed, the price could recover to test the downtrend line around 64,490.

Buy observation zone: 62,000–62,400
Confirmation: H2 bounced up and regained 63,000
Target: 64,490
Invalid: H2 closes below 61,900

This is still a pullback within the bearish structure; The reasonable immediate target is the trendline, not confirmation of a major trend reversal.