Article written on July 25th: "Green Plum Boiling Coins: Bitcoin Needs to Be Aware of Downside Risks"

Bitcoin has been moving sideways instead of declining recently, and it has remained this way for a long time, but some related indicators have changed.

USDT.D Indicator

USDT.D is a reverse indicator for Bitcoin, and its relationship with Bitcoin is negatively correlated. A rebound in USDT.D means an increased risk of Bitcoin's decline. (For an introduction to the USDT.D indicator, see version 1.8 of the Ordinary Person's Cryptocurrency Trading Manual)

Currently, the USDT.D daily line has reversed upwards, and there is a daily level divergence at the bottom, so the probability of a USDT.D rebound is relatively high, while the risk of BTC decline increases.

Look at Bitcoin itself again.

Structurally, the triangle adjustment formed by Bitcoin's sideways movement may be the wave 'b', and there will eventually be a wave 'c' decline to complete this round of adjustment.