The current rebound is a "short squeeze rebound," not the start of a new bull market:

· BTC fell from 126k to 59.8k, with a complex structure, more akin to a phased correction within a bear market rather than a standard five-wave decline ending.
· Although it has regained the EMA55/120/144, the arrangement is not a standard bullish alignment, similar to the complex rebound in 2022 that may continue to decline.
· 60k does not resemble a major cycle bottom; unless it effectively stabilizes above 90k later on, the bull-bear logic remains unchanged.

Key observation zones:

· First resistance zone: 84k~89k (FVG gap + Fibonacci level, prone to divergence).
· Second resistance zone: around 93k (only a breakout and stabilization may reverse the bull-bear pattern).

Trading principles: trade less, trade slowly, accept probability games, and do not insist on certainty. #Gate广场五月交易分享