The rules of BTC's large-scale pullback in the last bull market:

1. Pullback time: There were 5 large-scale pullbacks in the last bull market, 4 of which lasted within 2-3 weeks, and only one lasted for 3 months;

2. Pullback depth: The pullback depth is mostly around 20%, and only once was due to the 519 incident caused by China's ban on virtual currency, and the pullback depth was 50%;

3: Second exploration: There were 5 large-scale pullbacks with second explorations, and the average drop from the previous low position of the second exploration to the pin was 4-7 points;

Based on this, we can make a conclusion on this round of pullback:

1. Pullback time: This round of decline starts from the first time that Bitcoin stabilizes at 70,000. At present, It has been maintained for a month, and has entered the time range where Bitcoin may end its correction;

2. Correction depth: This round of decline has corrected from 73 to 60,000, a correction of 18%, which is the same as the 4 small-level corrections in the previous bull market;

3. Second exploration situation: There may be a lack of a second exploration at present. According to the rules of the previous second exploration, the low point of Bitcoin's second exploration will be between 55-58;

So if you believe that the bull market is still there, then the final low point of Bitcoin's correction in this round will be between 55-58. In addition, the decline of this round of decline has approached the level of 519, so I think the expected low point of Bitcoin may be raised. I currently tend to think that the low point will be above 55.