Yesterday, the hourly level saw a continuous decline, eventually reaching near our provided 4-hour EMA52 line (3500), where it found support and formed a rebound at the hourly level. Currently, the rebound appears relatively strong, but the 4-hour MACD is still in the process of returning to the zero line. If the fast and slow lines cross positively, the 4-hour rebound will take effect, and the price can continue to rise.
The daily line shows a long lower shadow and a short upper shadow bearish candle, with trading volume remaining basically flat compared to the previous day. The MACD is above the zero line and shows a continued weakening trend of bullish momentum.
Currently, a short-term top pattern has appeared. As we mentioned, the higher it goes, the more we need to take profits in batches. There is a divergence in funds here, with the key position at $4000, which is also a previous high. If the market does not form a consensus and the price cannot rise here, it is likely to drop sharply.
Daily level resistance is at 3870-4100-4300, support is at 3630-3445-3360-3130.
