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Is the bull really back?
Currently, Bitcoin looks more like a rebound rally rather than the start of a new bull market.
1. Rebounded from 60k to over 80k, a significant increase, but the trend is sluggish, slowly climbing along the channel, without a decisive volume breakout typical of a main upward wave, and buying support is insufficient;
2. The price has reached the key resistance zone at 83k. A true bull market would break through with increased volume and accelerate higher, but the current trend does not match that;
3. This rebound lacks a prolonged bottom sideways consolidation, and the main players haven't accumulated enough chips, so they won't push the market up to lift retail investors;
4. Looking back over the past year, every time the RSI entered the overbought zone, the market tended to weaken and pull back afterward.