Just today, Bitcoin finally broke through the 100,000 mark, then surged all the way up to around 104,600, before starting to pull back from the high, forming a long upper shadow, indicating strong resistance above, and showing signs of a volume stagnation.

Looking at the MACD, a bearish divergence signal has appeared on the hourly chart, with the DIF and DEA lines gradually approaching each other, and the momentum bars are gradually shortening, which may suggest that there is still a certain demand for adjustment in the short term.

However, the EMA7 and EMA30 moving average system on the hourly chart is still in a bullish arrangement, but currently, Bitcoin has descended near the EMA7, so we need to pay attention to whether it will break the support near EMA7 further down. That is around 101,400; if it does not continue to break down and closes below, then the bullish outlook in terms of operations will remain unchanged.