Sharing with all technical analysts. The current performance of Bitcoin during its accumulation phase is worth paying attention to. By combining Wyckoff methodology with Fibonacci water levels analysis, we can observe real-time changes in global liquidity trends—especially the global liquidity trend marked by the blue line. During the recent decline, we saw a significant pullback in the liquidity line, which is a typical characteristic of the accumulation phase. The key lies in the linkage between the decline and the subsequent rebound: as long as the fundamentals remain unchanged, we will eventually recover the lost ground. In other words, the current correction is just a preparation for the next upward wave. For traders focusing on on-chain data and market structure, the signals at this stage are quite clear.