At the present time, I still hold the view that BTC has not entered a clear reversal phase, although many are feeling quite optimistic as the price continuously retests the high area.
The reality is that BTC has not had a true reclaim of the Weekly 50 EMA – a critically important milestone in every cycle. Instances where the price touches the EMA and is then rejected, as just happened, are often not signs of strength, but rather, they are frequently a psychological trap to draw more people into the market $BTC
What causes many brothers to easily confuse is that BTC continuously "dives" into the 94k zone. On the surface, it seems that the price is accumulating to breakout, but if you observe the market structure closely, each pump up is accompanied by signs of distribution. Smart money does not chase buys here; they gradually offload BTC to those waiting for a breakout, while the real push is not enough to maintain the trend.
Another important point is that the liquidity below is still very thick. The stop-loss and liquidation zones of late long orders have not yet been swept. History shows that before the market creates a bottom or enters a sustainable recovery phase, BTC almost always has to "clean up" these liquidity zones. With the current structure, the 73k–76k zone is a reasonable area for the market to perform that final sweep.
If this scenario occurs, you may see a further decline to clean up leverage, pushing sentiment down to a more pessimistic level, and only then will BTC return to test the Weekly 50 EMA once again. It is precisely these retest moments that make the market easier to create fake reclaim or even a real reclaim to start a new trend. Therefore, I believe that the current stage is not the time to be too excited, but rather a time to patiently observe how the market handles liquidity and reacts at key technical levels.
In short, the market is not lacking in pumps to play on emotions, but the advantage always belongs to those brothers who are calm enough to wait for the right moment, rather than being swept away by signals that "look bullish" but have not been confirmed.