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Yes but there are some other signs like we broke below a major trend line that has been holding up for years, April crash still bounced off the trend line. There are also a ton of similarities between the 2021 peak and 2025. Price was making new highs but the RSI was making lower highs same as previous cycles. The current bounce is staying within the current downtrend line so it still looks more like a relief rally than a reversal. Not saying it isn’t possible but is looking unlikely. The trend is right until it breaks or shows signs of breaking, nothing yet.

Yes, it could be a relief rally. We did break through 2 fib levels real fast.