$BTC hit the ceiling of 110200 and then pulled back! Is the top divergence and subsequent pullback a trap or an opportunity?
Today, Bitcoin touched the previously mentioned resistance level of 110200. After multiple instances of top divergence on the 15-minute chart, it pulled back. However, looking at the 4-hour and longer timeframes, this is a healthy pullback, and the medium-term trend is not broken, so there is no need to panic.
It was previously mentioned that the upper space is limited on the 12-hour to daily levels, but in the short term, it is safe and will not fall uncontrollably. The 4-hour and smaller timeframes have already shown a top divergence structure, so there will be adjustments coming up, but there are bullish support moving averages or candlestick structures below. If there's a pullback, you can apply the 'Lifeline Strategy' by buying small on minor dips and buying more on major dips to catch rebounds.
Currently, on the 1-hour and smaller timeframes, the market is in a tug-of-war between bulls and bears, with limited upward space and difficulty in sustaining gains, so chasing higher prices isn't worth it; however, the pullback has long-term support that is not easy to break directly, so waiting for a pullback to catch rebounds is more cost-effective.
In summary: When the daily line is above MA60, it is safe in the short term. Mild declines within this range present short-term opportunities, while smaller timeframes are interwoven with bulls and bears. Wait for a pullback and rely on higher-level support to catch rebounds. Specific points: Short-term support is 108088-107580 (quick in and out), second support is 106486-105777 (also quick in and out); resistance compression at 110200-111582.
Additionally, 102189-99999 is not the current structural point, and regular fluctuations are hard to reach, but if it does, you can participate; if it drops another 4%, you can catch it again.
The market is dull; welcome brothers who have suffered liquidation to DM me for a recovery code!
