Let's talk about the current market sentiment I have observed;

First of all, when the price experiences a pullback again, I saw many bears becoming excited, but I did not see the bulls refuting this;

This may indicate that there aren't many long positions currently held by bulls, so there won't be substantial conflicts, while bears who have been short for a long time may become extremely excited when they see hope coming.

This market sentiment is not very favorable for bears because it can induce some liquidity to chase shorts at low levels, thus gradually increasing the liquidity of shorts at high levels.

If the price cannot break down and form a new breakout trend, then as the price rebounds, it may actually strengthen the upward momentum.

This is very similar to the period of high excitement among bulls on Monday and Tuesday, where a large number of bullish comments led to a faster accumulation of bullish liquidity below the price, thus pausing the bullish trend and resulting in a clear liquidation at the lower end of a small range...

I believe that most trend movements start from relatively low volatility and shrinking volume, and if the market gives you some price action that seems very confident, I would be cautious, especially before a specific structural breakdown occurs.