The 4-hour level rebound has reached a new high and shows a top divergence pattern. The price has fallen back but did not reach the 4-hour EMA52 support; instead, it rebounded at the 2-hour EMA52 support. After the 2-hour level rebound, the price still needs to further decline to find support at the 4-hour (3696) or 8-hour (3500) levels before there is greater energy to continue rebounding.
Therefore, the upcoming rebound can still be used to continue to lay out short positions at highs. After taking profit at the support positions on the 4-hour and 8-hour charts, one can reverse and open short-term long positions.
The daily line is a small bearish line with upper and lower shadows, and the trading volume is normal. The daily MA30 line maintains an upward trend, and the MACD shows a continuous weakening of upward momentum at a distance above the zero axis. The fast and slow lines are about to cross; if they do cross, then the price will need to undergo a period of adjustment. It will wait for the MACD to return to the zero axis or for the price to return to the zero axis before there is a chance to continue rising.
Daily level resistance levels are 4000-4170-4375-4650, and support levels are 3696-3500-3350-3180.
