#btc 【Bitcoin shows signs of a top divergence on the 4-hour level】
Bitcoin is currently priced around 74000. From the chart, we can see that the 4-hour MACD shows signs of a top divergence, with green bars indicating a reduction in upward momentum. Additionally, as I mentioned earlier, there are three layers of pressure at the 74000-75000 range. The breakout formed yesterday has not been stable, so there is still a significant demand for a pullback. It is predicted that there is a high possibility of a pullback near the yellow support line below, around 70000-71000. If it holds, then there is also a potential upward move towards the yellow trend line near 76000-77000, indicating the end of the fourth wave in the five-wave downward sequence, followed by a significant drop in the fifth wave.
If it can stay above 75200 in the next 24 hours, we will see levels around 78500-79000, which is near the Fibonacci 0.5 and the upper yellow resistance line, followed by another sharp decline.
Therefore, in terms of operation, it is recommended that yesterday's long position at 75200 should still be set to break even, with a profit-taking adjustment near 71000. For those who are not in the market, you can consider high short operations based on the above ideas, controlling the position ratio and stop-loss points.
