Bitcoin has seen a major rebound. However, at least by my standards, I still do not see clear signs or flow that suggest a trend reversal. I see this move as a technical rebound, made possible by the current market structure a market where overall interest has declined, and even a small amount of liquidity can create large price swings. In other words, this is not the time to view the market optimistically. I believe confirming a true bottom will take longer than many expect. Let me be clear: when I believe the trend has truly turned, I will say so explicitly. That naturally leads to the question: “Then why did you close your short position?” 1. I trade based on trend-following, and when I use futures, I trade monthly contracts, not perpetuals. As short-term price action becomes more complex and unstable, the market becomes much harder to handle emotionally. No matter how clear your rules are, once psychological pressure builds, you inevitably start reacting to the market instead of following it. 2. a rebound of this size suggests that the market is trying to defend certain levels. Even if further downside remains, it is less likely that the $60K level will break easily in the near term. Instead, a period of consolidation is more likely. Given that, I believed it was mentally and strategically better to step aside after closing the position and observe. When volatility increases, impatience grows. And when impatience grows, decisions often lead to regret. I did not act on emotion. I simply acted according to my rules. If I continue to see this market as a bearish cycle, I will re-enter short positions. If not, I will buy Bitcoin in the spot market.(mignolet)