What is a trend reversal, what is not?

I may be bearish but I will speak my mind, A bottom and top reversal is a process, it takes waves of buying/selling before it reverses. There are exceptions to this, I'll go over later. But the idea is that momentum in a direction doesn't stop suddenly.

In this case, bear pressure is still high. However, temporarily, bulls manage to rally to the 500 usd/btc level and maybe even higher. This is unlikely to be a reversal simply because we are in a downtrend. This downtrend didn't take form today or this week. It took month of stagnation before it took place. Similarly, May19 bull rally took a month of stagnation to rally as well.

If you are trading, be cautious in this high volatile market. They say, bulls make money, bears make money, pigs get slaughtered.

*Exception:

The exception to the above reversal process is when there is a bubble like rally or a super panic selling. I don't believe we have reached those scenarios considered how bitcoin has performed based in the past. During a movement of panic buying or selling, there might not be a reversal process or stagnation. Trend reverses right away.