$BTC

Before you open a position, take a look at this post!

In the second image, I’ve talked endlessly about the daily level top divergence, so I won’t repeat it here.

Look at the chart in the first image, a big pie on the four-hour level.

With the daily divergence, the price has surged upwards, breaking the upper edge of the triangular wedge.

Due to the daily divergence, there are no bearish candlesticks to digest it. If you chase long positions at this level, the risk is too high, and you are very likely to get trapped.

This might very well be the last surge of the big pie. You can interpret it as the 5th wave of an 8-wave upward movement or as the C wave of an ABC in an 8-wave downward movement.

The pressure zone for the big pie is between 87750-88550.

However, do not place short positions here; wait for a resistance pattern to appear in this range before attempting to short.

If you really want to go long despite the daily divergence,

then wait for the big pie to rise to the 87750-88500 range and then pull back before going long, which corresponds to the pullback after the rise in the first image.

The price must first reach 87750-88500 and then pull back to around 85000 before you can go long. Because of the daily divergence here, if it really rises to 87750-88500 and then falls back, the profit from long positions may not be very much.

So for now, just wait and observe according to the trend in the first image. The resistance zone is 87750-88550. Of course, the actual price may be higher than this, but that's not important. What matters is that after the range is established, you must wait for a bearish pattern to appear before going short.

If the daily divergence triggers a bearish volume, any long positions you chase will get trapped, so don't chase long positions; it’s correct to short at the highs.