The current trend is a bit overheated, with prices stuck around 110,000.

There are several warning signs to pay attention to: first, the RSI has reached 82, and historically, every time it has crossed above 80, there has been a pullback of about 10%; second, the trading volume is lagging behind, with the actual trading volume at 33,000, which is 40% less than the estimated 57,000, resembling a situation where the accelerator is pressed to the floor but the fuel tank is almost empty.

In the short term, the 110,000 level poses significant resistance, as the previous three attempts to break through have been met with selling pressure. Although the MACD histogram is still rising, the EMA7 moving average at 108,000 has already widened the gap with the current price, and a pullback to confirm support could happen at any time.

If the price cannot hold above 109,000 in the next couple of days, it is very likely to drop to around 105,000, and in extreme cases, it could even dip to 102,000, which is the starting point of the rise on May 16.

At this position, definitely do not chase the price upwards; it is better to wait for one of two opportunities: either a breakout with volume above 111,000 or a sharp drop to around 105,000 to catch a rebound. Data from miners and exchanges also indicate that large holders are quietly reducing their positions, making the cost-performance ratio here quite low.

The market changes daily, so don’t become too anxious. If you always feel like you are a step behind or are disturbed by market noise, these issues can be resolved if you find the right person to help you!