Bitcoin has experienced a violent surge last week, with the price entity breaking through the upper Bollinger Band. Over the past two days during the weekend, the upper Bollinger Band has constrained the price, which has been stagnant at the 120,900 level. The price rebounded in the evening, and as long as the candlestick entities remain above the upper band, it is seen as a bearish signal in professional analysis due to the top divergence of the Bollinger Band.

The attached RSI values are already in the overbought state, including the daily chart, which is also overbought. Even if the current price rebounds and breaks the previous high, the bears do not need to panic. The highest point of the four-hour RSI was at 86, and it is currently at 72. As long as the RSI does not break the previous high, it also indicates price divergence.

This is my personal opinion, so there’s no need for everyone to keep asking me to cut losses. In the current market, both long and short positions can be taken. I have invested this much money to open positions based on a certain logic. Currently, I am bearish, and it’s useless for anyone to persuade me otherwise. 🤪#BTC #ETH