Illustrator: IImage Trace -Not able to release after editing

This is the image I am trying to trace and I have gotten to the second stage after erasing the outside and unwanted stuff, . Now I went to try get it back to normal but as you can see the image trace panel is all faded out and when i go object -> image trace none of the options are available. Any idea how to get it back to original state minus what i removed during image trace?

Result: Solved it, in the end I used GIMP and using the Free Select Tool I traced the image selecting slightly inside and then inverted and made the rest transparent. This tutorial was extremely helpful. I believe the way to do it in PS would be with the pen tool? Would love to know for the future if anyone can verify.