$BTC

Bitcoin has pulled back from 112,000 to 100,000 and failed to reach its previous high. It is currently facing resistance at 110,000 and has turned downward, touching the middle band of the Bollinger Bands. It is worth noting that Bitcoin's current performance is significantly weaker than the S&P 500. At the same time, it should be clarified that if it does not return to 110,000 in the remaining two trading days of this week, or goes lower than the current level, the weekly candlestick pattern will form a long upper shadow.

Therefore, we need to clarify the following known issues:

1. The upward trendline from 75,000 to 112,000 has been broken. (Red line)

2. The pullback low at 100,000 can be seen as a short-term support level. If it successfully retests this support, then the new trendline will be (black), giving good reason to expect a breakout above the 112,000 high.

3. The range between 100,000 and 112,000 can be considered the current oscillation zone.

4. A weekly RSI divergence signal has appeared.

5. A weekly 2B pattern has emerged.

Summary:

1. If you hold a short position (like me), the cost-effectiveness of continuing to hold is very advantageous.

2. If you do not hold a short position, then you should cherish every small upward opportunity.

3. If you want to enter a long position, then I believe now is not a good opportunity (current price 107,700).