BTC still looks bearish on the higher timeframe ever since the October top, but at the same time, the move from the February lows has clearly been a local uptrend.

That’s the thing about market structure, it all depends on the timeframe and perspective you’re looking at.

Short term, bulls have definitely controlled momentum over the past few months. But zooming out, there’s still the possibility this becomes just another lower high within the broader downtrend.

It’s also a reminder that short-term trading and long-term investing shouldn’t always be treated the same way. A swing trade setup and a spot holding can have completely different strategies, risk management, and expectations behind them.