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Bears Are Still in Control: An Analyst Explains Why Large Traders Are Not Rushing to Buy
The cryptocurrency market continues to search for a direction following recent volatility, while traders closely monitor price behavior near key psychological levels.
However, despite local optimism, the technical picture on higher timeframes still raises concerns among professionals. Experts warn that the current dynamics of the leading cryptocurrency require strict signal filtering.
A Test of Strength
Well-known analyst Crypto Nova noted that the recent price rebound from $80,000 to the $98,000–100,000 range unfolded exactly as anticipated. However, this pullback alone does not yet answer the key question: will we see a bullish breakout, or will bears continue to apply pressure?
“Regardless of the global direction, a rejection from resistance had to occur. What happens next becomes critically important. If, after a moderate pullback, the price repeatedly tests the same zone, it will create conditions for entering a position,” the analyst said.
He added that a scenario involving a persistent retest of the level would be considered a signal to switch into all-in mode — provided that proper risk management is applied.
Bitcoin technical analysis. Source: Crypto Nova.
Structure Matters More Than Indicators
The trader also emphasized that, structurally, Bitcoin (BTC) on the daily chart is still in a downtrend. In his view, this factor remains unchanged and is decisive for large capital.
“As long as the daily structure is not broken, capital preservation remains the priority rather than chasing profits,” he explained.
According to Crypto Nova, many market participants are currently trying to find positive signals based on macroeconomic data, quantitative easing (QE) programs, RSI and MACD readings, or altcoin behavior.
“The arguments may be perfectly logical, but until they are confirmed by price action, they are useless. You cannot claim the market will go up based on 100 charts if the asset is actually continuing to fall,” the expert stressed.
The Psychology of Large Capital
The expert also addressed market psychology, contrasting the approaches of beginners and professionals. According to his observations, traders with small portfolios often criticize a neutral stance, demanding specific forecasts here and now.
At the same time, any investor managing accounts with seven figures always maintains neutrality and continuously reassesses the situation. A professional’s task is not to risk everything on an all-or-nothing bet, but to protect already accumulated capital.
“If Bitcoin fails to realize a growth scenario toward the resistance level or breaks below the current consolidation range, the correction is not over. In that case, it would be premature to talk about a market bottom,” he concluded.
See also: "Bitcoin Price at $92.5K, but Range Holds Due to the Fed"
