5.21$BTC Market Analysis:

Short-term Trend: The Game Between Top Divergence Signals and Strong Breakthroughs

Bitcoin reached a recent high on the daily chart yesterday, and the MACD indicator showed a top divergence signal, which typically indicates short-term pullback pressure according to conventional technical logic.

However, it is worth noting that the price has not significantly retreated in the past two days; instead, it has shown strong characteristics of higher lows and frequent new highs, indicating that bullish forces still dominate despite the divergence signal.

This trend of "price-volume divergence yet refusing to pull back" suggests that the market may digest the overbought pressure of technical indicators through a time-for-space approach, with the potential to resolve the top divergence and continue the upward trend.

Medium to Long-term Prediction: A Breakthrough of $110,000 Has Become a Trend Consensus Early in the market's downturn in April, it was clearly stated that BTC would break through $110,000 in May or June 2024. The current market trend is continuously validating this logic.