The double top on the weekly chart for the pancake is becoming apparent! Pullback alarm sounded 🚨

There are only two days left in this week. Looking back at this bull market, during the previous two instances when the market exhibited a weekly double top accompanied by a spinning top pattern, it led to a decline of up to 33%. This historical trend warrants high vigilance.

The waterfall drop of five thousand points that occurred in the market yesterday has clearly disrupted the originally steady upward trend. If this week ultimately closes with a bearish candle and forms a weekly double top pattern, then the risk of a further pullback will significantly increase. This signal must be closely monitored and preparations should be made to respond.

From the MACD indicator perspective, it has currently shown an initial death cross trend. Once this indicator officially forms a death cross, it will technically confirm the establishment of a pullback trend, and market downward pressure will further intensify.

My target range for building positions is clearly locked in around 98300 to 97700. This range is not only the ideal entry point determined after comprehensive analysis but also the lower support level of the weekly upward trend line. If the market breaks below this range, it signifies that the key support of the upward trend has been breached, and the subsequent movement may face greater uncertainty, with potential risks that cannot be ignored.

However, it needs to be emphasized that from the larger trend perspective, I remain firmly bullish. The process of this bull market has not ended, and the short-term pullback is more of a phase adjustment within the trend, which will not alter the long-term upward pattern. $BTC #加密市场回调 $ETH #BTC再创新高 $XRP #主流币轮动上涨