The price of Bitcoin surged by nearly $10,000 on Sunday after U.S. President Donald Trump confirmed plans to create a strategic cryptocurrency reserve. However, despite the optimism of most traders, some analysts believe this rally could be a false breakout.

Prominent crypto analyst Ali Charts noted that Bitcoin's rise above $90,000 is likely to be short-lived, as it may soon face resistance before the next upward move. He also pointed out that Bitcoin could pull back, as often happens when the price reaches the 200-day moving average.

The 200-day moving average is widely used to determine long-term trends in traditional financial markets. If an asset remains above this level, it is considered to be in an upward trend.

Analyst Martinez suggested that the current surge may mirror Bitcoin's price patterns in previous cycles. He drew parallels with the 2021 bull cycle, when Bitcoin struggled to stay above the 200-day moving average. Despite expectations that Bitcoin would reach $100,000 by the end of the year, the price was rejected well before approaching that mark.

After a period of sideways movement in December 2021, Bitcoin rose above $50,000, sparking market optimism. However, this rally was short-lived, and a strong bear market soon followed.

Ali Charts' analysis aligns with the views of Will Clemente, co-founder of Reflexivity Research. Clemente previously warned that Bitcoin's breakout above $90,000 could be a bearish signal. He noted that the market is gripped by fear of missing out (FOMO) due to Trump's announcement and cautioned against chasing a false breakout, as a price correction may be inevitable.

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