When we are unsure of the direction, it might be helpful to extend the candlestick chart for a clearer view. In the daily timeframe, the price has shown a continuous upward trend since April 25, reaching a peak of 95149.9 today before pulling back.

In the short-term 1-hour chart, it shows fluctuations around the 95000 level, testing this integer level multiple times but failing to break through effectively.

Then my MACD on the daily chart shows that bullish momentum is weakening, with the MACD histogram starting to shorten, but the long-term trend remains in a strong zone: a balanced state appears at the hourly level.

The daily RSI has entered the overbought zone at around 66.5, indicating potential selling pressure. On the hourly chart, it has dropped to about 50.

The moving averages EMA7, 30, and 120 together form a support band. In the short term, the price is dynamically supported by EMA7, effectively cushioning the downward pressure.

The daily trading volume has significantly increased: since April 28, it has maintained a high level, especially on that day when 27623 brought continuous upward momentum.

The hourly line has not changed much: the trading volume fluctuations in recent hours have relatively decreased, suggesting that market sentiment is increasingly cautious. It is advisable for the bulls to wait for a breakthrough above previous highs before going long; for the bears, it is suggested to short after breaking below the fluctuation range.

This is an interpretation of Bitcoin's trend.

If I were to express a personal opinion: my view is [bearish].

There are two reasons: 1. The MACD on the daily level is gradually weakening 2. The candlestick on the daily level shows overbought conditions 3. The 4-hour level is still in a downtrend and has not changed.

Therefore, entering a position should either be at a high point with a small multiple, setting the stop-loss at the previous high, which minimizes losses, maximizes profits, and is less stressful, or waiting for a clear signal after a breakdown to enter. Which method do you prefer for entering a position?

Friends who have read this far might as well follow, let's chat every day, and there may be different insights.