According to 𝐋iquidity 𝐃octor (@doctortraderr), Bitcoin's recent pump is viewed as a bearish retest of the broken range low, following a high-time-frame (HTF) range breakdown to the downside. The expectation is for a continuation of the downward movement towards the highlighted yellow box area, suggesting a bearish outlook for BTC in the near term.

According to ReetikaTrades, the current market squeeze is not leading to a bearish retest due to actual positive news. The trend is supported by the selling activity of older investors over the past months, who now feel underexposed after reading the recent news, suggesting a potential market reclaim and upward movement.