Bitcoin Nears Critical Point: Will it Break Higher or Fall into a Trap?

The past two months have proven to be some of the most challenging for both myself and other top traders I know. While there were convincing reasons to adopt bearish or defensive positions, the price movements remained turbulent and unpredictable, testing every bit of confidence and often leading to stop-loss executions or merely observing during rallies. Fundamentally, caution was justified by factors such as ongoing global trade uncertainties caused by uncoordinated responses from Trump, persistent high levels of U.S. 10-year treasury yields negatively impacting risk assets, and abnormal Bitcoin purchases driven by retail investors' optimism, which signaled a peak in strategical approaches. Additionally, the ruthless decline in altcoins from February to March further entrenched a defensive mindset among many. Personally, I regret not maintaining my stance during the bullish breakout past $90K, even after acknowledging its falsehood. There's a saying by Cobie about the difference between playing not to lose and playing to win, which resonates deeply with my current mindset. I am actively working to shift my perspective from the former to the latter, a process that demands significant mental effort. Despite these conservative outlooks, many crypto enthusiasts remain fixated on short-term scalping as the sole survival strategy in the recent downturn. However, the pendulum will eventually swing back, rewarding those who are willing to risk capital for bigger dreams. I believe this trend has already begun. Currently, all attention is on Bitcoin, which hovers near its all-time high. The big question is whether it will break higher or fall into what I see as the most significant false breakout trap. This decision time feels imminent.